The so called Bonny Light crude is one of the most desired oils in the industry. What does it make it such important for the Western countries, who are the best providers, what it is the actual value of a barrel and what can you produce best of it?
Bonny oil is not popular just because of its low sulphur concentrate, which makes the procedure for the refineries much more easier and economical, but also because of its lower environmental impact of its byproducts during the refinery effluent.
This Crude has been gained first in Nigeria, near the city Bonny, from which it got its name. Also, it seems that this would be the only country that could sell this kind of resources at first hand. Looking through several lists of buyers and traders of BLCO, Nigeria is the only that offers this product. Even the USA, Brazil or the United Arab Emirates, also other European countries, are just interested in buying it.
10% of the USA's yearly oil imports are made of Nigerian oil. This amounts for 40% of the whole stock in Nigeria.
The price tangent this week to $117.73 per barrel, with a decrease of $5.77 per barrel. A real better price in view of the average price of crude this days.
As Bonny Oil used to be more environmental friendly than other oil-types, we use it mostly as gasoline or heating gas.