Nigeria's state oil firm launches new 'Nembe' grade of crude
11/7/2023 10:20:00 AM
(Reuters) - Nigeria's state oil firm NNPC Ltd on Tuesday said it had launched a new grade of crude called Nembe, which is particularly suited to the European market.
The grade is similar to Nigeria's other distillate-rich grades such as Forcados, Bonga and Egina, said Maryamu Idris, executive director crude & condensate at NNPC Trading, at the Argus European Crude conference in London.
The low-sulphur grade commands a premium to the global Brent benchmark and is a good candidate to compete with Brazilian crude grades for European refiners, she added.
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