Also know as:
Qua Iboe is a light, sweet crude grade produced in Nigeria
Production comes from a variety of oil fields off the coast of Nigeria in the Bight of Biafra. The field is operated by ExxonMobil and owned by Exxonmobil and NNPC
Spot prices are reported by both Platts and Argus, for 950,000-1,000,000 bbl cargoes, FOB at the Qua Iboe terminal. There is also an official formula price posted by NNPC