(EnergyAsia, August 12 2013, Monday) — Platts, a leading global energy, petrochemicals and metals information provider, said it has begun publishing daily price assessments for five West African grades of crude oil.
The new price assessments, launched on August 1, provide end-of-day values on the open spot market for two Nigerian grades, two Angolan grades and one grade of crude oil produced in the Republic of Congo. With the launch of these new assessments, Platts now publishes a total of 17 daily price assessments for crude oil produced in western Africa.
The new Nigerian and Congolese grades are priced as a differential to Platts West African Dated Brent Strip while the new Angolan crudes are priced as a differential to Platts Angolan Dated Brent Strip.
“These new assessments mark a major expansion of Platts’ coverage of the West African crude oil market and bring a new level of transparency to this burgeoning supply source,” said Andrew Bonnington, editorial director, European & African oil, Platts.
The Nigerian assessments are for two sweet crudes, Akpo and Bonga.
France’s Total is producing 160,000 b/d of Akpo, a light, sweet crude similar in specification to Nigeria’s Agbami, from a floating production, storage and offloading (FPSO) unit off the West African country while a Shell-operated offshore FPSO is producing a similar volume of medium sweet Bonga.
Platts said it is assessing Angola’s Pazflor and Plutonio crude oils on a daily basis.
A Total-operated FPSO, fed by one of Angola’s larger fields, is producing around 200,000 b/d of heavy sweet Pazflor, while a BP-operated FPSO is supplying a similar volume of medium sweet Plutonio crude.
Platts said its fifth new assessment provides a daily value for Congo’s 160,000 b/d heavy sweet Djeno crude oil. Operated by Total, Djeno’s onshore terminal can accommodate very large crude carrier vessels.
Platts’ other West African price assessments provide values for six Nigerian crudes – Agbami, Bonny Light, Brass River, Escravos, Forcados and Quao Iboe – and six Angolan grades: Cabinda, Nemba, Dalia, Girassol, Hungo, Kissanje.