14 Apr 2021 | 02:52 UTC — Singapore

Iran's NIOC raises all May Asia-bound crude OSPs by 35-50 cents/b

Singapore — State-owned National Iranian Oil Company has raised the May official selling prices for all its Asia-bound crude grades by 35-50 cents/b from April, according to a notice on the company website seen by S&P Global Platts April 14.

NIOC raised the May Iranian Light and Forozan OSP differentials by 35 cents/b each from April to a premium of $1.60/b and 70 cents/b, respectively, to the average of Oman/Dubai assessments in May, while it increased the price of Iran Heavy by 40 cents/b to a premium of 65 cents/b.

The May OSP differential for Soroosh crude was raised by 50 cents/b from April to a discount of $2.85/b to Oman/Dubai assessments.

(Unit: $/b)
Iran's Asia OSPs ($/b):
Grade
Basis
Mar
Apr
May
Change
Iranian Light
Oman/Dubai
0.85
1.25
1.60
0.35
Iranian Heavy
Oman/Dubai
0.05
0.25
0.65
0.40
Forozan
Oman/Dubai
0.15
0.35
0.70
0.35
Soroosh
Oman/Dubai
-3.35
-3.35
-2.85
0.50
Iran's Med OSPs ($/b): Basis
Grade
Basis
Mar
Apr
May
Change
Iran Light
BWAVE
-1.65
-3.20
-3.55
-0.35
Iran Heavy
BWAVE
-3.20
-4.75
-4.90
-0.15
Forozan
BWAVE
-3.15
-4.65
-4.80
-0.15
Soroosh
BWAVE
-6.90
-8.80
-8.95
-0.15
Iran's NWE OSPs ($/b): Basis
Grade
Basis
Mar
Apr
May
Change
Iran Light
BWAVE
-1.55
-3.25
-3.60
-0.35
Iran Heavy
BWAVE
-3.00
-4.70
-4.90
-0.20
Forozan
BWAVE
-2.95
-4.65
-4.85
-0.20

Editor:

Geetha Narayanasamy