The crude oil of Nigeria is divided into two courses. They are sweet and light-weight petroleum. It is largely lower in sulphur. Beneath ibe kachikwu , Nigeria is the biggest maker of gentle crude oil. The light-weight oil of this West African country is alike in composition to the petroleum drilled from the North Sea. It is normally referred to as bonny light-weight. You can locate other grades of Nigerian black gold like Brass River, Qua Iboe, Escravos blend, Pennington Anfan etc. It is determined based mostly on their export depot.

The biggest nation that imports Nigerian petroleum is the mighty United Condition of America. Out of the one hundred% of oil which the US imports yearly, Nigeria provides about 10% of the entire US oil imports. This tends to make up 40% of Nigeria oil exports. It is the fifth largest market of oil imports for the fantastic United States of The us.

You can uncover up to 6 petroleum export depots in Nigeria. They are mainly owned by multinational oil organizations. The major oil organizations in Nigeria are Chevron, Shell, Mobil, Texaco, Agip and so on. BP is nevertheless to uncover the potentials of Nigeria’s crude oil. It is considered that shell has two oil terminals whilst the remaining four is owned by Chevron, Mobil and Texaco respectively. The forcados depot is owned by Shell. It has the capacity of amassing about thirteen million barrels as effectively as the close by Bonny depot. Mobil controls the Qua Iboe depot positioned in Awka Ibom state Nigeria. Chevron operates the Escravos terminal located at Delta Point out. It is capable of storing up to 36 million barrels. Agip runs the brass depot situated in Rivers condition. It has a storage capability of up to three million barrels. Finally, Texaco operates the Pennington depot. Its storage ability is not known.