Bloomberg News

Nigeria Cuts June Bonny, Qua Iboe Oil Prices to 10-Month Low

May 21, 2012

Nigeria reduced its June official selling price for Bonny Light and Qua Iboe crudes to a 10-month low, according to the Nigerian National Petroleum Corp.

The price for the two benchmark blends will be 60 cents less than in May at a premium of $2.00 a barrel to Dated Brent, the lowest since August, the state oil company said today in an e-mailed price list.

The following table shows the selling prices of crudes from Nigeria and Equatorial Guinea as a differential against Dated Brent. Prices are in dollars.

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Grade           June     May      Change
Nigeria
Abo Light       +0.40    +1.00    -0.60
Agbami           0.00    +0.55    -0.55
Akpo             0.00    +0.50    -0.50
Amenam Blend    +1.20    +1.85    -0.65
Antan Blend     +0.40    +1.20    -0.80
Bonga           +2.70    +2.95    -0.25
Bonny Light     +2.00    +2.60    -0.60
Brass Blend     +2.00    +2.60    -0.60
EA Blend        +3.10    +3.70    -0.60
Ebok            -5.40    -5.25    -0.15
Erha            +2.60    +3.00    -0.40
Escravos Light  +2.00    +2.30    -0.30
Forcados Light  +3.50    +3.95    -0.45
Ima              0.00    +0.50    -0.50
Obe             +0.60    +1.15    -0.55
Okono Blend     +1.80    +2.30    -0.50
Okoro           +0.70    +1.25    -0.55
Okwori          +1.80    +2.30    -0.50
Okwuibome       -3.80    -3.75    -0.05
Oyo             +0.70    +1.15    -0.45
Pennington      +3.60    +4.05    -0.45
Qua Iboe Light  +2.00    +2.60    -0.60
Ukpokiti         0.00    +0.55    -0.55
Usan            -1.25    -0.85    -0.40
Yoho Light      +2.00    +2.60    -0.60


Equatorial Guinea
Zafiro          +0.50    +1.15    -0.65
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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


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