12 Jul 2021 | 08:33 UTC

Iran's NIOC raises August Asia-bound crude OSPs by 75-80 cents/b

State-owned National Iranian Oil Company, or NIOC, raised the August official selling price differentials for all of its Asia-bound crude grades by 75-80 cents/b from July, according to a notice seen by S&P Global Platts July 12.

NIOC raised the August Iranian Light and Iranian Heavy OSP differentials by 80 cents/b each from July to a premium of $2.40/b and $1.30/b, respectively, to the average of Oman/Dubai assessments in August, while it raised the differential of its Forozan crude by 75 cents/b to a premium of $1.35/b. The August OSP differential for Soroosh crude was raised by 80 cents/b.

(Unit: $/b)
Iran's Asia OSPs ($/b):
Grade
Basis
June
July
Aug
Change
Iran Light
Oman/Dubai
1.50
1.60
2.40
0.80
Iran Heavy
Oman/Dubai
0.50
0.50
1.30
0.80
Forozan
Oman/Dubai
0.50
0.60
1.35
0.75
Soroosh
Oman/Dubai
-3.15
-3.25
-2.45
0.80
Iran's Med OSPs ($/b): Basis
Grade
Basis
June
July
Aug
Change
Iran Light
BWAVE
-3.75
-2.95
-2.45
0.50
Iran Heavy
BWAVE
-5.20
-4.70
-4.20
0.50
Forozan
BWAVE
-5.15
-4.60
-4.15
0.45
Soroosh
BWAVE
-9.35
-9.00
-8.40
0.60
Iran's NWE OSPs ($/b): Basis
Grade
Basis
June
July
Aug
Change
Iran Light
BWAVE
-4.10
-3.20
-2.50
0.70
Iran Heavy
BWAVE
-5.60
-4.90
-4.25
0.65
Forozan
BWAVE
-5.50
-4.85
-4.20
0.65

b from July to a discount of $2.45/b to Oman/Dubai assessments.

Editor:

Kshitiz Goliya