Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Nigeria Cuts Qua Iboe Crude Price for December to $2.85

Don't Miss Out —
Follow us on:

Nov. 18 (Bloomberg) -- State-owned Nigerian National Petroleum Corp. lowered its official selling price for benchmark Bonny Light and Qua Iboe crudes for December loading by 70 cents to a premium of $2.85 a barrel to North Sea Dated Brent, according to a price list obtained by Bloomberg News.

The company also announced the prices for two new grades, Okwuibome and Ebok. Okwuibome was set at $3 a barrel less than Dated, and Ebok was at a discount of $5.50 to the same benchmark, according to the list.

The official selling price of Equatorial Guinea’s Zafiro grade, also set by NNPC, was reduced by 10 cents to $1.20 a barrel more than Dated Brent.

The following table shows details of Nigerian official selling prices against Dated Brent. Prices are in dollars.

----------------------------------------------------------------
Grade           December November Change
Abo Light       +1.40    +2.00    -0.60
Agbami          +1.40    +1.90    -0.50
Akpo            +1.35    +1.80    -0.45
Amenam          +2.10    +2.70    -0.60
Antan           +0.90    +1.30    -0.40
Bonga           +3.10    +3.55    -0.45
Bonny Light     +2.85    +3.55    -0.70
Brass Blend     +2.85    +3.55    -0.70
EA              +4.10    +4.90    -0.80
Ebok            -5.50    N.A.     N.A.
Erha            +3.40    +4.20    -0.80
Escravos Light  +2.50    +3.00    -0.50
Forcados        +3.95    +4.65    -0.70
Ima             +1.00    +2.05    -1.05
Obe             +1.45    +2.15    -0.70
Okono           +2.65    +3.05    -0.40
Okoro           +1.30    +2.30    -1.00
Okwori          +2.70    +3.30    -0.60
Okwuibome       -3.00    N.A.      N.A.
Oso Condensate  -0.25     0.00    -0.25
Oyo             +1.20    +2.25    -1.05
Pennington      +4.20    +4.95    -0.75
Qua Iboe        +2.85    +3.55    -0.70
Ukpokiti        +1.30    +1.85    -0.55
Yoho Light      +2.85    +3.60    -0.75
----------------------------------------------------------------

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.