What are the types of crude oil in Nigeria and the benefits of this natural resource? Crude oil is indeed Nigeria’s backbone, and the country remains one of the largest oil-producing countries in the world (and indeed, the highest in Africa). 

Crude oil (also referred to as petroleum) is a natural and sticky unrefined remain of ancient marine organisms. Since it was discovered in Nigeria some years back, it has changed the fortunes and outlook of the country. Of course, in itself, it is not useful – until it goes through certain processes and refining to birth series needed products. 

The extraction of crude oil is done through drilling – which comes prior to proper findings by geologists. There are different countries blessed with these natural resources, and produces various types of crude oil. For Nigeria, she produces only high value, low sulphur content, light crude oils: 

Types Of Crude Oil In Nigeria

  • – Bonny Light
  • – Brass Blend
  • – Escravos Light
  • – Forcados Blend
  • – Qua-Iboe Light
  • – Antan Blend
  • – Bonny Medium
  • – IMA, Odudu Blend
  • – Pennington Light
  • – Ukpokiti.

It is necessary to add that one of the major types of crude oil the country produces is the Bonny Light. It is actually a high grade of Nigerian crude oil and is produced in the Niger Delta basin. One of its prominent features is that it has low sulfur content, and so, is highly prioritized by refiners. 

Types Of Crude Oil In Nigeria

Here are specifications for the major types of crude oil in Nigeria samples (they are approximate valuations subject to Q & Q):

  • Bonny Light

    • – API Gravity: 35 degrees
    • – Sulfur Content: 0.2%bbl/mt
    • – Conversion Factor: 7.526
    • – Specifications: {{API 35.4°, S.G. 0.85, Sulphur 0.14, Pour point -18°C, TAN 0.27 mg KOH/g}}, Nickel 3.6 wppm, Vanadium 0.4 wppm, Visc. (50°C) 2.9 cSt

  • Qua Iboe

    • – API Gravity 36 degrees
    • – Sulfur Content: 0.1%bbl/mt
    • – Conversion Factor: 7.45
    • – Specifications: {{{S.G. 0.8487, Sulphur 0.1175, Pour point 60°F, TAN 0.32 mg KOH/g, Nickel 4.1 wppm}}}, Vanadium 0.3 wppm, Visc. (20°C) 5.71 cSt

  • Brass Blend

    • – API Gravity variable
    • – Naphtha: N+2A > 70
    • – Sulphur: 0.13%
    • – Specifications: {{{API 36.25°, S.G. 0.845 conversion rate 7.46, Pour point -36 °C, TAN 0.29 mg KOH/g}}}, Nickel 2.0 wppm, Vanadium < 2 wppm, Visc. (40°C) 5.2 cSt

  • Escravos

    • – API Gravity: 33.0-33.5 degrees
    • – Sulfur Content: 0.15-0.18%.
    • – Specifications: {{{S.G. 0.85, Conversion Rate 7.5, Pour point 7 °C, TAN 0.53 mg KOH/g, Nickel 4.8 wppm}}}, Vanadium 0.5 wppm, Visc. (40°C) 4.75 cSt

  • Forcados

    • – API Gravity: 30 Degrees
    • – Sulfur content: 0.2%bbl/mt
    • – Conversion Factor: 7.223
    • – Specifications: {{{Pour point -27 °C, TAN 0.34 mg KOH/g, Nickel 3.9 wppm, Vanadium 1.0 wppm}}}, Visc. (50°C) 4.6 cSt

Benefits Of Crude Oil In Nigeria

The reason why the commodity is highly patronized is because of the numerous benefits it serves. Various important things can be done with it, and it explains why countries that don’t have these natural resources are usually interested in spending hugely to get them. 

Crude oil is a blessing to us, as it has contributed a lot in promoting our welfare. Here are some of its benefits:

  • (i) Transportation: Imagine a life without cars and motorcycles. If not for crude oil that has helped in powering these inventions, perhaps we would have continued walking with legs to very far places (imagine the discomfort and unpleasantness). So, crude oil has helped to change our transportation system and made things easier for us as far as mobility is concerned. 
  • (ii) Petrochemical industry: We can’t underestimate the big contribution of petroleum to chemical and petrochemical industries. These important industries feed on petroleum to be up and going, and they also need crude oil’s by-products for production.
    Petrochemical companies depend on these natural resources to makes such commodities like fertilizer, paints, insecticides, and so on. 
  • (iii) Lubricants: These are the major source of power for all manner of mechanical machines (especially industrial and transport). Think about ships, trains, and even airplanes. If lubricants are not around, how would they serve us as they have been doing? What will be the fate of humanity if we were not able to bring about such? At least, for this, petroleum remains very important to us. 
  • (iv) Industrial Revolution: The Industrial Revolution changed the course of humanity, and its dividends still remain beneficial. So, it brought about the invention of powerful machines that have being used to make stuff that has made life easier for us. Nevertheless, you need to know that if not for crude oil, there won’t be the industrial revolution. If the industrial revolution did not occur, imagine the stage humanity would remain by now. With oil, goods are being produced, and we are enabled to transport them to those who need them in no time. Crude oil helped in bringing about the electricity that is being used in homes and industries today. 

Factors Affecting Crude Oil Price

Indeed, when we talk about price, we can’t but start with the discussion of demand and supply. This is general economic stuff. As far as the price of a commodity or product is concerned, we can’t separate the laws of demand and supply. So, in the same vein, if the demand for crude oil is high, the price will go up, and vice versa. 

Additionally, it is possible for a buyer and a seller to agree that they will continue to conduct the business of buying and selling of crude oil at a determined price. Some buyers take such steps to avoid buying more in the future. 

Also, the Organization of Petroleum Exporting countries can influence the price of crude oil. The organization was set up to oversee the activities of oil-producing countries. The organization can take steps that can shoot the price of oil up. 

Another determinant is a natural disaster. Should a fatal natural disaster came up and affect some important oil wells, it might bring about a price increase.

In conclusion on the types of crude oil in Nigeria and its benefits, Nigeria is indeed blessed with various types of crude oil. Out of everything, the Bonny Light (which happens to be what many wants), is one of the major the country can boast of, and it keeps generating huge revenue yearly. 

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