Description
Bonny Light Crude Oil
Bonny Light crude oil is gotten from the Niger Delta region of Nigeria and is among the top four kinds of crude oil in the world. It is literally the source of oil wealth for the US, UK and most of Europe. Bonny Light got its name from the community in Nigeria, Bonny where it is made. Crude Oil Color, volatility, viscosity, toxicity and density are constituents of the oil which could vary significantly in all type of crude oil. Bonny Light oil has a low Sulphur content of about 0.37 per cent, with a low environmental impact attributed to its byproducts in refinery effluent. It a highly desired grade for its low corrosiveness to refinery infrastructure. There are other grades of crude oil like Brass River crude, however, there is high demand from refineries in the US and Europe for the Bonny Light. We secure and supply the secondary market (Off OPEC Sales) working with reliable suppliers and potential ready and willing buyers. BLCO has good gasoline yields. Gasoline, also known as petrol or motor gasoline, is one of the major petroleum products from processed crude oil. Gasoline is one of the higher valued light products (along with fuel and diesel), so refiners try to maximize their yield of gasoline, along with diesel, to maximize profit.
High API Gravity
API, which stands for the American Petroleum Institute, is a commonly used index of the density of crude oil or refined products.
Crude oil will typically have API between 15 & 45 degrees. Higher API indicates lighter (lower density) crude, while lower API indicates heavier (more dense) crude. Generally, lighter (high API) crudes are more valuable because they yield more high-value light products when running through a refinery. Light crude is typically in the 35-45 API range and BLCO has an API of 32.9.
Bonny Light Crude Oil (BLCO) is imported by the following countries: India, USA, Spain, Netherlands, France, South Africa, Togo, Cote D’Ivoire, Brazil, Argentina, Uruguay and Canada.
Brent Crude Oil is an international “benchmark” for crude oil pricing. It is used to price about two thirds of the world’s international crude oil supplies. Brent crude is also a light, sweet crude oil well known for its properties. It’s the pricing standard for crude oil in the UK, while the pricing benchmark in the USA is mainly the West Texas Intermediate (WTI).
Oil disruptions will happen sometimes due to several factors and one such is force majeure. A Force Majeure which is French for “superior force” is a contract provision that allows a party to suspend or terminate the performance of its obligations when certain circumstances beyond their control arise, making performance inadvisable, commercially impracticable, illegal, or impossible. The provision may state that the contract is temporarily suspended, or that it is terminated if the event of force majeure continues for a prescribed period of time.
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