What is Nembe oil grade, Nigeria’s new product targeting Europe?

Nigeria’s new Nembe oil grade is a light, sweet crude oil with a low sulfur content. It is particularly suited to the European market, where there is a strong demand for light, sweet crudes. Nembe oil is also well-suited for the production of gasoline and other high-value products.

The launch of Nembe oil is a significant development for Nigeria, as it will help to diversify the country’s crude oil exports and reduce its reliance on a few key grades. It is also a sign that Nigeria is committed to increasing oil production and attracting new investment in the sector.

The first cargoes of Nembe oil were sold in October 2023, and the grade is expected to become increasingly popular with refiners in the European market.

Here are 5 other key things to know about Nembe oil:

It is produced by Aiteo, Nigeria’s largest indigenous oil producer.

It is produced from the Nembe Creek Trunk Line (NCTL), which is a major oil pipeline in the Niger Delta.

What is Nembe oil grade, Nigeria’s new product targeting Europe?

Nigeria’s new Nembe oil grade is a light, sweet crude oil with a low sulfur content. It is particularly suited to the European market, where there is a strong demand for light, sweet crudes. Nembe oil is also well-suited for the production of gasoline and other high-value products.

The launch of Nembe oil is a significant development for Nigeria, as it will help to diversify the country’s crude oil exports and reduce its reliance on a few key grades. It is also a sign that Nigeria is committed to increasing oil production and attracting new investment in the sector.

The first cargoes of Nembe oil were sold in October 2023, and the grade is expected to become increasingly popular with refiners in the European market.

Here are 5 other key things to know about Nembe oil:

It is produced by Aiteo, Nigeria’s largest indigenous oil producer.

It is produced from the Nembe Creek Trunk Line (NCTL), which is a major oil pipeline in the Niger Delta.

The NCTL has been plagued by disruptions in recent years due to oil theft and vandalism. However, Aiteo has invested heavily in security and pipeline maintenance, and the NCTL is now operating more reliably.

Nembe oil is expected to be exported via the new Nembe Crude Oil Export Terminal, which is currently under construction. The terminal is expected to be completed in 2024.

The launch of Nembe oil is a positive development for Nigeria and the global oil market. It provides Nigeria with a new source of revenue and helps to diversify the country’s crude oil exports. It also provides refiners with a new source of high-quality light, sweet crude oil.

Read also: Nigeria lost over N16trn to crude oil theft, pipeline vandalism in 11yrs — NEITI

Other oil grades peculiar to Nigeria

Bonny Light: A light, sweet crude oil with a low sulfur content. It is one of the most popular Nigerian crude oil grades and is prized for its high quality and versatility.

Qua Iboe: Another light, sweet crude oil with a low sulfur content. It is similar to Bonny Light, but it is slightly heavier and has a higher API gravity.

Forcados: A medium, sweet crude oil with a slightly higher sulfur content than Bonny Light or Qua Iboe. It is also more viscous than these grades.

Brass River: A heavy, sweet crude oil with a higher sulfur content than the other Nigerian grades. It is also more viscous.

Escravos: A medium, sour crude oil with a higher sulfur content than the other Nigerian grades. It is also more viscous.