The Dogab Oil Limited offers only Nigerian Crude Oil and its by-products through undertaking the sales and purchasing products that are accomplished by our expert marketing strategies.
The prices of ourcrude oil products are calculated as average mean low/high quotations, as published by the Platt’s oil gram. Monthly average crude oil Brent spot prices are calculated from daily quotations, while the annual averages are calculated from the average of the twelve consecutive calendar’s months. Usually, prices are either dated (when it’s a spot price), and assessed (based on Platt’s weekly assessment of spot prices) or the first month’s forward supply, which is the dated quotation for prompt physical cargoes.
The prices for the crude oil apply to quantities and are measured by approved automatic custody transfer facilities or 100% turnout with systematic adjustment of volume and gravity for temperature and full deduction for sediment and water, adjusted to the nearest tenth °API using the following price adjustments for gravity variations from the posted gravity.
The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with the latest ASTM Standards and API Manual of Petroleum Measurement Standards (MPMS) accepted in the petroleum industry worldwide and with deductions made for full sediment, water and other impurities.