Nigeria newest crude oil grade is back on the market and NNPC is looking for buyers fast.

Nigeria state owned oil giant NNPC is pushing more of its crude onto the global market.

Cbinews.tv reports that the company has issued fresh tenders to sell a cargo of its newest grade, Cawthorne, for September loading, plus another cargo of Bonny Light.

The documents, seen by newsmen, show the Cawthorne cargo will load on 21 to 22 September and will comprise 950,000 barrels. NNPC is also offering a 950,000 barrel cargo of Bonny Light loading on 30 September to 1 October.

NNPC did not immediately respond to a request for comment.

As reported by cbinews.tv, both cargoes are being sold on a free on board basis, and bids are due by 8pm West Africa Time, 1900 GMT, on 4 August.

This is part of a bigger push. NNPC only began exporting Cawthorne back in March, joining other recently launched grades like Nembe and Utapate. It is all part of Nigeria plan to boost production and diversify its export streams after years of underinvestment, oil theft and operational disruptions.

The Bonny Light stream is looking busy too, with a preliminary loading programme seen by Reuters showing it will load around 364,000 barrels per day across 12 cargoes.

For the wider market, sellers of West African grades were starting to raise offer levels in recent sessions amid growing supply disruptions in the Middle East, traders told reporters. But broadly speaking, trading activity has been muted as market participants await further clarity on the volatile situation in the Strait of Hormuz and the Red Sea.

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