There are different types of light crude oil to buy. They are Saudi light crude oil which originates from Saudi Arabia. Brent crude which comes from North Sea. West Texas intermediate which comes from USA, precisely around the Texas state region. Coming down to Africa, you can find Bonny and Forcados. The standard of this petroleum varies and their prices vary as well. I believe you already know why people prefer to buy light grade to the heavy grade. The light grades are lower in sulphur content, easy to refine and produce bigger volumes of diesel and other end products of petroleum.
There are four countries which I am aware of where you can find light petroleum sellers. They are namely Norway, USA, Saudi Arabia, Canada, Mexico and Nigeria. It may also be bought from non-oil producing countries from resellers. The best light petroleum to buy is the West Texas intermediate. It has the lowest sulphur content and the low degrees of API gravity.
NNPC is the place to buy bonny light petroleum in Nigeria. It is a government owned company which overseas the allocation of oil to local refineries, international refineries and oil traders. There are some conditions, requirements and eligibilities you need to posses before you can successfully be given oil allocation from NNPC.
Some of the ones I am hundred percent aware of are:
1. Proof of access of up to $100,000, and net worth of up to $40,000.000.
2. Performance bond posting of up to 1 million dollars.
These are some of the major requirements in addition to ownership of a refinery or a prominent oil trader.
If you can not meet these requirements, then there is another way to buy petroleum from Nigeria. The way is to buy your light petroleum from persons who have already gotten allocation from NNPC. You can sign an agreement with this type of dealer to be supplying you crude oil on a monthly basis. The last option is to buy petroleum from a loaded vessel containing light crude oil either through TTO or TTT from a seller whose buyer disappointed.
Source by Ositadimma Muodozie