S&P Global Platts Announces Formal Proposal on Additional Crudes for Dated Brent Benchmark - Seite 2

Joel Hanley, Editorial Director, European & African Oil, S&P Global Platts added: "In our ongoing conversations with market participants, we consider grades that meet a range of criteria. This includes a diversity of buyers and destinations, stable quality, steady and reliable production rate, avoidance of political influence and a stable long-term production profile. Consequently, Platts has started looking at the role that Norway's Troll can play in moving Dated Brent forward. Troll is a light, sweet distillate-rich crude grade with a healthy production profile that prices similarly to the existing BFOE grades. The proposal of adding Troll to the Dated Brent benchmark is another step in the evolution of the North Sea benchmark."

Other North Sea developments

Platts has decided not to implement a move to 45-day ahead Dated Brent and Cash BFOE in 2020. Extensive feedback from market participants to a subscriber note published on February 18, 2013 demonstrated support for the current, month-ahead structures which have underpinned Dated Brent and cash BFOE since early 2015.

Finally, Platts proposes to start publishing new price assessments for two additional North Sea crude oil grades, Asgard and Alvheim, on March 1, 2017. This reflects the growing volume of crude oil production in the vicinity of the North Sea that varies from the traditional light, sweet, distillate-rich grades produced in the region and includes condensates, grades loading from FPSOs, cargo sizes other than 600,000 barrels, and those outside of the immediate North Sea. Platts proposes to publish assessments for Asgard and Alvheim as both outright prices and as differentials to Dated Brent.

Platts Dated Brent oil assessments are built on the Platts Market-on-Close (MOC) methodology, a structured, highly-transparent price assessment process based on the principle that price is a function of time. The MOC process in oil identifies bid, offer and transaction data by company and results in a time-sensitive, end-of-trading-day daily price assessment.  For more information, visit this methodology and specification page of the Platts website.

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