The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price, which is typically priced $5 to $6 above the EIA's Imported Refiner Acquisition Cost (IRAC) and OPEC Basket prices. The crude oil of Nigeria is divided into two classes. They are sweet and light petroleum. It is mostly low in sulphur. Under OPEC, Nigeria is the biggest manufacturer of light crude oil.

West African crude oil typically has relatively low sulfur content by world standards, but varies widely in terms of gravity, with Nigeria being well-known for light sweet crude oil grades while Angola is more frequently associated with heavy sweet crude oil. Key Nigerian crudes assessed by Platts include Qua Iboe and Bonny Light, as well as lighter grades Agbami and Akpo, and the heavier grade Forcados. The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price, which is typically priced $5 to $6 above the EIA's Imported Refiner Acquisition Cost (IRAC) and OPEC Basket prices. The crude oil of Nigeria is divided into two classes. They are sweet and light petroleum. It is mostly low in sulphur. Under OPEC, Nigeria is the biggest manufacturer of light crude oil. Source: Nigerian National Petroleum Corporation (NNPC) and Reuters: Click the small arrows to move the data one or three months forwards or backwards within the year in display. Choose year to display. 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006: Export Crude Oil Production and Price Global interest for Nigerian crude oil grades increases. Dec 5, 2019. There is increasing thirst for both lighter and heavier Nigerian barrels in global markets as the country’s grades remain popular, while the export programme for December is already down to its last cargoes.

4 Dec 2019 The country's grades remain popular, with the export programme for December already down to its last cargoes, as the global market remains 

4 Mar 2020 In 2018, the OPEC oil price per barrel was 69.78 U.S. dollars. Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. Because there are many types and grades of oil, such benchmarks Average annual OPEC crude oil price from 1960 to 2020 (in U.S. dollars per barrel). 2 Aug 2013 The Nigerian assessments are for two sweet crudes – Akpo and Bonga. Akpo is a light, sweet crude similar in specification to Nigeria's Agbami. It  18 Aug 2016 According to trade press reports, exports of multiple Nigerian crude oil grades, including Bonny Light, Forcados, Brass River, and Qua Iboe,  18 Dec 2013 Led by industrialist Nitin Sandesara, Seepco has been producing Okwuibome grade of crude oil from its Nigerian fields for over past two years. Abstract Nigerian crude oil samples produced from various locations have been tested under laboratory conditions using ASTM methods. Experimental analyses  

2 Aug 2013 The Nigerian assessments are for two sweet crudes – Akpo and Bonga. Akpo is a light, sweet crude similar in specification to Nigeria's Agbami. It 

Bonny Light oil is a high grade of Nigerian crude oil with high API gravity (low specific gravity), produced in the Niger Delta basin and named after the prolific  In the international petroleum industry, crude oil products are traded on various oil bourses Antan Blend, 26.4°, 0.27%, Nigeria, Knock Adoon FPSO/Antan Terminal Intertek: Crude Oil Grades and Types · MeGlobalOil: Carriage of Heavy Grade Oil · Statoil.com: Crude oil assays · EnergyIntel.com: The Crude Oils and their 

7 Apr 2019 light U.S. shale oil has largely swept away comparable grades of Nigerian Nigerian exports of crude and petroleum products to the United 

14 Feb 2014 Understanding crude oil's complicated grading system is the first step however, refineries had replaced about 90% of Nigerian imports with 

24 Dec 2013 Nigeria has about 36 billion barrels of crude oil reserve and 19.2 billion health, safety and environmental standards in order to stimulate the 

Other grades of Nigerian crude oil are Qua Iboe crude oil, Brass River crude oil, and Forcados crude oil. The Cabinda crude oil is a common grade of crude oil produced in Angola. The Bonny Light is in high demand specifically by American and European refineries. It is therefore a major source of income for the oil-rich nation. Exports of two Nigerian crude oil grades, Qua Iboe and Bonny Light, are set to rise in March. April loading programmes for several Nigerian grades emerged late last week, according to Reuters. Exports of Qua Iboe, the country’s largest oil grade, will rise to 253,000 barrels per day Global interest for Nigerian crude oil grades increases Dec 5, 2019 There is increasing thirst for both lighter and heavier Nigerian barrels in global markets as the country’s grades remain popular, while the export programme for December is already down to its last cargoes. Nigerian crude oil grades get boost in Europe. The narrowing spread between Northwest European diesel and petrol cracks has helped support some Nigerian crude grades which have suffered from a lack of European demand, traders have said.

Bonny Light oil is a high grade of Nigerian crude oil. It is produced in the Niger Delta basin and named after the prolific region around the city of Bonny. Noted for  Nigeria is Africa's largest producer of crude oil. according to the NEITI's 2016 Audit, total Nigeria is richly endowed with various types of mineral resources. 10 Mar 2020 Between coronavirus and crude oil in Nigeria's economy. *…as investment specialist says Naira's gone; it's a question of when? By Michael Eboh.