OREANDA-NEWS. Nigeria's NNPC issued its official formula prices for August, raising the prices of all the main export grades by around 10-35?/bl.

The higher prices relative to North Sea Dated reflect the stronger demand for Nigerian crude both in Europe, India and the US, driven by the surge in gasoline prices.

The state oil firm set the price of Qua Iboe, Nigeria's benchmark grade, at Dated +0.61, up 26?/bl on the month, with Bonny Light raised 12?/bl to Dated +0.35, Bonga set at Dated +0.26 and Agbami at Dated -0.84.

The Usan price was set at Dated -1.38, a hike of $1/bl.

Only around 15-20mn bl of Nigerian crude remains unsold, less than when last month's formula prices were issued, after Indian refiners bought most of the 12-cargo Qua Iboe programme for August, and with some rare sales to US and Canadian refiners.

Grade Jul Aug ±
 
Bonny Light 0.23 0.35 0.12
Qua Iboe 0.35 0.61 0.26
Escravos 0.08 0.25 0.17
Brass River -0.48 -0.35 0.13
Pennington -0.18 -0.09 0.09
Forcados 0.44 0.55 0.11
Amenam -0.73 -0.36 0.37
Yoho 0.97 1.45 0.48
EA 1.17 1.36 0.19
Abo -0.03 0.34 0.37
Okono 0.60 1.00 0.40
Antan -2.85 -3.02 -0.17
Okwori 0.90 1.06 0.16
Bonga 0.06 0.26 0.20
Erha 0.75 1.14 0.29
Agbami -1.18 -0.84 0.34
Akpo -1.41 -0.99 0.42
Ukpokiti 0.51 0.97 0.46
Obe 0.32 1.03 0.71
Ima -0.45 0.26 0.71
Okoro -6.82 -7.89 -1.07
Oyo -1.43 -1.33 0.10
Okwuibome -3.03 -3.16 -0.13
Ebok -10.47 -11.30 -0.83
Usan -2.37 -1.38 1.01
Zafiro* -1.51 -1.44 0.07
Premium for deferred pricing 0.05 0.05 0.00
Premium for advanced pricing 0.05 0.05 0.00
*Equatorial Guinea