Evidence basis: Industry Price-agency or government typical value, dated August 2026. Crude quality varies from cargo to cargo; in any transaction the certificate of quality for the specific lifting governs, not a published assay.
No current operator assay is publicly available to us. The only detailed public assay (Oil & Gas Journal, 2010) was run in 1999 on a pre-production well-test sample.
Agbami: quality and origin
Agbami is a very light, very low-sulphur stream from a deepwater field about 112 km offshore, produced through an FPSO with roughly 2.15 million barrels of storage.3 Argus lists a typical quality of 47.2° API and 0.05% sulphur with 950,000-barrel cargoes.1
Crude or condensate?
The Nigerian regulator reports Agbami in its condensate rows,4 and analysts note that Agbami and Akpo do not count towards Nigeria's OPEC crude quota.5 For a buyer the practical point is refining behaviour: a 47° API stream is naphtha- and kerosene-rich and suits splitters, petrochemical feed and blending more than conventional distillate-oriented refining.
Ownership
Chevron operates the field. Equinor sold its Nigerian business, including a 20.21% interest in Agbami, to Chappal Energies in a transaction completed on 6 December 2024.6 Equinor no longer publishes an Agbami assay.
Who buys it
Indian Oil Corporation bought a one-million-barrel Agbami cargo by tender in 2025, according to Reuters reporting.7
How published figures compare
Publishers quote different qualities for Agbami because assays are run years apart on a stream whose field mix changes, and because price-reporting agencies publish rounded "typical" values. We show the figures side by side rather than silently choosing one.
| Source | API | Sulphur wt% | Evidence |
|---|---|---|---|
| Argus Media, August 20261 | 47.2 | 0.05 | Industry |
| EIA table, Nov 20258 | 48 | 0.04 | Government |
| OGJ 2010 (1999 well-test sample)9 | 47.2 | 0.044 | Industry |
Loading, operator and output
- Loading point
- Agbami FPSO — see the export terminal database
- Operator
- Chevron (Star Deep Water Petroleum), OML 127/128; Chappal Energies acquired Equinor's 20.21% field interest in December 20246
- Producing area
- Deepwater, about 112 km offshore in roughly 1,500 m of water
- Status
- Active
- Reported output
- 69.2 thousand b/d — AGBAMI condensate row, May 2026.4 This is production by stream, not exports; part of some streams is delivered to Nigerian refineries.
- Pricing basis
- A differential to Dated Brent — see how Nigerian crude is priced
- Volume conversion
- 7.95 barrels per tonne at this gravity (our derived figure) — the barrels-to-tonnes converter has Agbami as a preset
- Checking an offer
- A genuine Agbami cargo traces back to the operator and loading point above. See who can lawfully sell Nigerian crude and the verification centre before engaging any seller
Comparable grades
The Nigerian grades closest to Agbami by API gravity. The comparison tool puts any of them side by side.