Goldlin Dimensions Limited is a perspective participant in the market of crude oil refining and fuel distribution technologies, positioned to deliver petroleum products in any part of the world.
Crude oil is commonly known as petrol. It is a liquid found within the Earth comprised of hydrocarbons, organic compounds and small amounts of metal. Crude oil is typically obtained through drilling, where it is usually found alongside other resources, such as natural gas (which is lighter and therefore sits above the crude oil) and saline water (which is denser and sinks below). It is then refined and processed into a variety of forms, such as gasoline, diesel, kerosene and various forms of petrochemicals.
Industry Analysis / Market Potential
Despite the steep drop in the global value of BLCO, crude oil marketing continues to be the largest revenue stream for the Nigerian government. The trade doesn’t just benefit the federal government, but also benefits every business savvy individual interested in the oil and gas industry, as the lucrative nature of crude oil marketing in Nigeria has given rise to a vast number of crude oil brokers who strive daily to source genuine crude oil buyers searching for genuine crude oil sellers with allocations from the NNPC, to buy from.
Nigeria is currently ranks as Africa’s largest producer of oil and the sixth largest oil producing country in the world with a crude oil production capacity of about 2.5 million barrels or a lot more per day. Reserves of crude oil is claimed to stand at about 28.2 million barrels, making Nigeria the tenth most petroleum-rich nation, and by far, the most affluent in Africa.
Types Of Crude Oil We deal on in Nigeria
1) Bonny Light Crude Oil: Bonny Light oil is a high grade of Nigerian crude oil with high API gravity (low specific gravity), produced in the Niger Delta basin and named after the prolific region around the city of Bonny (port-harcourt). The Bonny Light is in high demand specifically by American and European refineries because of its low sulfur content. It is, therefore, a major source of income for Nigeria. The Bonny terminal is capable of storing 13 million barrels (2,100,000 m3) of crude oil in conjunction with the nearby Forcado Terminal, who are both operated by Shell.
2) Forcados Crude Oil: The Forcados terminal is capable of storing 13 million barrels (2,100,000 m3) of crude oil in conjunction with the nearby Bonny Terminal, who are both operated by Shell.
3) Qua Iboe Crude Oil: Qua Ibo is made up of Light crude containing very low levels of sulfur, metals and asphaltic material; when refined will provide similar low sulfur specification products. It is a well-balanced intermediate crude that produces high quality, low sulfur products after simple refining. Qua Iboe Terminal is located on the eastern side of the Qua Ibo river estuary and contains 9 crude oil storage tanks with a total capacity of 4.5 million bbls. The Qua Ibo terminal is operated by Mobil in Akwa Ibom State.
4) Escravos blend Crude Oil: Escravos crude oil is produced in Nigeria. It is loaded from the Chevron-operated Escravos Terminal, which can accommodate Very Large Crude Carrier (VLCC) vessels. The Escravos terminal is capable of storing 3.6 million barrels (570,000 m3) of crude oil and is operated by Chevron in Delta State.
5) Pennington Anfan Crude Oil: The Pennington Anfan terminal is operated by Texaco.
6) Brass River Crude Oil: Brass River is a typical high-quality West African gasoline- and gasoil-oriented crude. It has an API gravity of 36.3, a sulfur content of 0.13% and a low metals content. The grade is loaded from the Brass River terminal operated by Agip and is capable of storing 3,558,000 barrels (565,700 m3).
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