Data Trading
The value of Angolan crude
Not all oils are created equal, nevertheless despite fierce competition from Nigeria´s highly graded oils, Angolan oil sells well in the international markets. This performance can be exemplified by:
- Crude from Nemba and Palanca is light and appropriate for gasoline production and are favored by USA buyers.
- Kuito´s crude is dense and has good acceptance in the Middle East where the economy is growing exponentially.
- For being good for production on fuel oil, a great majority of crude from Cabinda has lately been exported to China.
Cabinda and Nemba come from Block Zero, Angola´s most prolific area, at the mouth of the Congo River. Kuito and Xikomba come from deepwater Blocks 14 and 15 respectively. Girassol from Block 17 and Palanca from Blocks 2 and 3. For more information about the Blocks, please consult the concessions´ map.
Angola´s six main grades of oil have quoted prices. Nemba and Palanca are the best quality crude type (i.e. lowest content of sulphur and asphalt) and trade at a premium to Brent. But crude from Kuito and Cabinda, with heavy content of sulphur and asphalt, normally trade at a discount to Brent.
Cabinda could be regarded as the benchmark Angolan crude and is a reference point for international markets. Platt´s, the commodities reporting company, considers Cabinda grades to be transparent and globally traded.