A Review of the Nigerian Energy Industry

OPEC daily basket price close at $109.90/b

30 Sugust 2012, Sweetcrude, Vienna, Austria – The price of OPEC basket of twelve crudes stood at 109.90 dollars a barrel on Wednesday, compared with $110.22 the previous day, according to OPEC Secretariat calculations.

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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