The Nigerian National Petroleum Company Ltd. (NNPC) has exported its first ​cargo of a new light crude ‌grade, Cawthorne, to the Netherlands, the company said on Wednesday.

NNPC is aiming to boost production and diversify ​its export streams as Nigeria works ​to lift output after years of ⁠underinvestment, oil theft and operational disruptions.

About 950,000 ​barrels were shipped from the Cawthorne floating ​storage and offloading vessel (FSO), located off Bonny in Rivers State, which supports output from oil mining ​lease 18, NNPC said.

The launch follows ​recent additions such as Nembe and Utapate crudes under ‌what ⁠NNPC described as a broader strategy to expand Nigeria’s portfolio of exportable oil blends.

Nigeria produced about 1.4 million barrels per ​day in March, ​OPEC ⁠data shows, well below capacity.

NNPC Chief Executive Bashir Bayo Ojulari said ​the development supported government targets ​to ⁠raise crude output to 3 million bpd by 2030.

Nigeria depends on oil exports for ⁠most ​of its foreign exchange ​earnings.

REUTERS