Second Vessel this Month Carries Nigerian Crude Oil to Norway

A drone view of an oil tanker and tugboat
Updated Published

The Maran Lyra, a Very Large Crude Carrier (VLCC), is scheduled to arrive in Norway today with what broker Braemar has described as an “unusual” cargo.

The vessel will be unloading Nigerian crude at Mongstad, located north of Bergen, where Equinor operates a refinery. This marks the second shipment of Nigerian crude to Mongstad this month, following a previous delivery by the Atlantic Suezmax.

“Norway rarely imports crude. When it does, most of it comes from the United States. These cargoes represent the largest import of West African crude into Norway ever, and the highest monthly crude oil import for Norway since February 2023,” Braemar noted in a tanker update.

In mid-May, the price of Norway’s Johan Sverdrup crude surpassed Brent, while Nigerian crude prices fell due to an oversupply. This price difference prompted the decision to import the African oil.