RESEARCH · 02 SEP 2026

Cawthorne Crude, OML 18 and NNPC Cargo Activity in 2026

A source-based profile of Nigeria's new Cawthorne light-sweet crude grade, its OML 18 infrastructure and publicly reported cargo activity.

Scope: This page summarizes publicly verified physical-market facts. It does not publish an independent Cawthorne price assessment or alter CCI™, NCI™ or WALSI™ model values shown on the Cawthorne Intelligence terminal.

What is Cawthorne crude?

NNPC Limited describes Cawthorne as a Nigerian light, sweet crude grade with an API gravity of 36.4 degrees. NNPC compares its quality profile with Bonny Light and says the grade is attractive to refiners because of its potential yield of premium transport fuels.

How Cawthorne connects to OML 18

Cawthorne crude is exported through the Cawthorne Floating Storage and Offloading vessel near Bonny, Rivers State. NNPC states that the FSO supports crude evacuation from OML 18. Reuters also reported in February 2026 that the Cawthorne FSO can store up to 2.2 million barrels and supports production from OML 18 and surrounding areas in the eastern Niger Delta.

First publicly confirmed export cargo

NNPC confirmed that the first Cawthorne cargo entered the international market in April 2026. The company said approximately 950,000 barrels were loaded onto the MT Eburones and headed to the Netherlands. Reuters independently reported the same first-cargo event and identified the shipment as the first export of the new Cawthorne grade.

September 2026 NNPC tender

Reuters reported on August 3, 2026 that NNPC issued a tender for a 950,000-barrel Cawthorne cargo loading September 21–22, 2026 on an FOB basis. The tender was issued alongside a separate Bonny Light cargo. This provides a directly observable physical-market event for the grade, but it does not by itself establish a benchmark price or repeatable market assessment.

Why the grade matters for Nigerian crude markets

Cawthorne joins other newer Nigerian crude streams introduced as the country seeks to expand production, improve evacuation infrastructure and diversify exportable grades. For market participants, the key indicators to watch are repeat cargo frequency, disclosed bids and offers, buyer recurrence, destination patterns, quality consistency and the emergence of transparent differentials to established Brent-linked references.

Verified facts at a glance

Grade: Cawthorne crude.
Quality: 36.4° API, described by NNPC as light and sweet.
Infrastructure: Cawthorne FSO near Bonny, Rivers State.
Upstream connection: OML 18.
First publicly confirmed export: approximately 950,000 barrels to the Netherlands in April 2026.
Reuters-reported tender: 950,000 barrels, FOB, loading September 21–22, 2026.