13 Sep 2021 | 08:07 UTC

Iran's NIOC cuts October Asia-bound crude OSPs by 90 cents/b-$1.20/b

State-owned National Iranian Oil Company, or NIOC, has cut the October official selling price differentials for all its Asia-bound crude grades by 90 cents/b-$1.20/b from September, according to a notice seen by S&P Global Platts Sept. 13.

NIOC cut the October Iranian Light OSP differentials by $1.20/b from September to a premium of $1.45/b, while the OSP differential for its Iranian Heavy and Forozan crude was cut by 90 cents/b and 95 cents/b, respectively, to a premium of 65 cents/b each, to the average of Oman/Dubai assessments in October.

The October OSP differential for Soroosh crude was slashed by 95 cents/b.

Iran's Asia OSPs ($/b):
Grade
Basis
Aug
Sep
Oct
Change
Iran Light
Oman/Dubai
2.40
2.65
1.45
-1.20
Iran Heavy
Oman/Dubai
1.30
1.55
0.65
-0.90
Forozan
Oman/Dubai
1.35
1.60
0.65
-0.95
Soroosh
Oman/Dubai
-2.45
-2.25
-3.20
-0.95
Iran's Med OSPs ($/b): Basis
Grade
Basis
Aug
Sep
Oct
Change
Iran Light
BWAVE
-2.45
-3.25
-3.25
0.00
Iran Heavy
BWAVE
-4.20
-4.95
-4.95
0.00
Forozan
BWAVE
-4.15
-4.90
-4.95
-0.05
Soroosh
BWAVE
-8.40
-8.95
-9.00
-0.05
Iran's NWE OSPs ($/b): Basis
Grade
Basis
Aug
Sep
Oct
Change
Iran Light
BWAVE
-2.50
-3.10
-3.05
0.05
Iran Heavy
BWAVE
-4.25
-4.85
-4.75
0.10
Forozan
BWAVE
-4.20
-4.80
-4.75
0.05

Editor:

Pritish Raj