Brent Crude is one of the most widely traded and benchmarked crude oils in the world. It serves as a major pricing reference for global oil markets, alongside West Texas Intermediate (WTI). Brent Crude is extracted from the North Sea and is a blend of crude oil from multiple fields, including Brent, Forties, Oseberg, Ekofisk, and Troll (collectively known as the BFOET blend).
API Gravity: Around 38°–39°, making it a light crude oil.
Sulfur Content: Approximately 0.37%–0.40%, classifying it as a sweet crude oil.
Density and Viscosity: Light and low viscosity, making it easy to transport and refine.
Refining Yield: Yields a high proportion of valuable light distillates, such as gasoline, diesel, and jet fuel, making it highly desirable for refineries.
Qayarah Crude Oil is a heavy crude oil produced from the Qayarah oil field located near Mosul in northern Iraq. Known for its high sulfur content and high viscosity, it represents one of Iraq’s heavier and lower-grade crude oils. Despite its challenging refining properties, Qayarah Crude is an important regional source of energy and plays a significant role in Iraq’s domestic and industrial fuel production.
API Gravity: Around 14°–18°, classifying it as a heavy crude oil.
Sulfur Content: Approximately 4%–8%, making it a high-sulfur (sour) crude oil.
Density and Viscosity: Dense and highly viscous, requiring heating or blending for transportation and processing.
Refining Yield: Produces a higher proportion of residual fuels, asphalt, and heavy distillates, with fewer light products compared to light crude oils.
SOMO Iraq Crude Oil refers to the grades of crude exported and marketed by the State Oil Marketing Organization (SOMO) of Iraq, which manages the country’s crude oil exports. Iraq is one of the top oil-producing nations globally, and its crude grades—particularly Basra Light, Basra Medium, and Basra Heavy—play a vital role in international energy markets. These crudes are mainly exported through the southern terminals near Basra and the northern pipeline system through Ceyhan, Turkey.
API Gravity:
Basra Light: Around 30°–33° API
Basra Medium: Around 28°–30° API
Basra Heavy: Around 23°–27° API
Sulfur Content:
Ranges between 2.5%–4.0%, depending on the grade, classifying it as a sour crude oil.
Density and Viscosity:
Heavier and more viscous than light crudes like Brent or WTI, requiring more complex refining processes.
Refining Yield:
Produces a higher proportion of middle and heavy distillates such as diesel, fuel oil, and residual products.
Suitable for refineries equipped with desulfurization and cracking units.
Refined into diesel, fuel oil, and kerosene for transportation and industrial use.
Used as a feedstock in complex refineries capable of processing high-sulfur crude.
Serves as a key supply source for Asian markets, particularly India, China, and South Korea.
Plays a strategic role in the global crude oil supply chain, influencing pricing and trade dynamics in the Middle East.
Bonny Light Crude Oil (BLCO) is a high-grade crude oil extracted from the Niger Delta region in Nigeria. It is one of the country’s main export commodities and is known for its relatively low sulfur content and high API gravity, making it a highly sought-after crude oil in the global market.
Low sulfur content: BLCO has a sulfur content of around 0.24%, which is significantly lower than other types of crude oil.
High API gravity: BLCO has an API gravity of around 33-35 degrees, which indicates a lighter and more refined crude oil.
High yield of middle distillates: BLCO has a high yield of middle distillates, such as diesel and jet fuel, making it a valuable feedstock for refineries.
Basrah Crude Oil is a significant export blend from Iraq and one of the key grades influencing Middle Eastern and global oil markets. It is primarily produced in the southern oil fields near the city of Basra and exported through the Persian Gulf. Basrah Crude serves as a benchmark for Iraqi oil exports and is an important reference for Asian refineries due to its availability and composition.
API Gravity:
Basrah Light: Around 29°–31°, making it a medium crude oil.
Basrah Heavy: Around 23°–24°, classifying it as a heavy crude oil.
Sulfur Content:
Basrah Light: Approximately 2.8%, considered a sour crude.
Basrah Heavy: Around 4.0%, making it a high-sulfur crude oil.
Density and Viscosity:
Denser and more viscous compared to Brent or WTI, requiring more complex refining processes.
Refining Yield:
Produces a larger proportion of heavier products such as fuel oil and residuals, though advanced refineries can optimize yields of gasoline, diesel, and jet fuel.
Commonly refined into diesel, fuel oil, and other middle distillates.
Serves as a key feedstock for refineries equipped with desulfurization and cracking units.
Acts as a benchmark for Iraqi and Middle Eastern crude exports, especially to Asian markets such as India, China, and South Korea.
Venezuelan crude oil refers to the various grades of crude oil produced in Venezuela. The country is known for having some of the largest proven oil reserves in the world, primarily consisting of heavy and extra-heavy crude oil. Venezuelan crude oils are generally characterized by their high density (low API gravity) and high sulfur content, making them more challenging and costly to refine compared to lighter, sweeter crudes like Bonny Light.
Heavy and Extra-Heavy: Most Venezuelan crudes have low API gravity, meaning they are dense and viscous.
High Sulfur Content: This makes them “sour,” requiring more complex refining processes to remove sulfur.
High Residue Yield: Yields a larger proportion of residual fuel oil and asphalt compared to lighter crudes.