Seplat Petroleum has released a new crude grade from the OMLs 4, 38 and 41 fields in Delta
State as Nigeria struggles to quell the impact of militant attacks on one of its key crude oil
blends.
This new grade called Forcados Light, replaces the regular export grade, Forcados
Blend and is being shipped through a terminal at the 125,000 bpd Warri refinery. Seplat has
confirmed that the new crude is being sent from the four fields via a 100,000 bpd pipeline to
available storage tanks at the Warri refinery and sold to its off taker, Mercuria, at the plant's
jetty.
The company had said last year that its intention was to have another export route
available for the future and is aiming for exports of 30,000 bpd on a longer-term basis.
The popular export grade, Forcados Blend, one of Nigeria's top export crudes which
are usually loaded via the Shell-operated Forcados terminal in the Niger Delta, was shut
down due to February and November attacks which led to the declaration of force majeure on
deliveries. Exports of this grade resumed temporarily at the end of September and in October
up until an attack in early-November on the Trans-Forcados Pipeline stopped supplies again.
Nigeria’s oil output dropped to a near 30-year low of about 1.4 million bpd in May
from 2.2 million bpd earlier in the year as attacks on oil facilities in the Niger Delta increased
due to militancy in the region.
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