Kuwait's KPC lowers January crude OSPs to US, Europe; raises prices to Asia

Houston — Kuwait Petroleum Corp. lowered its January official selling prices for crude bound for the United States and Europe, while it raised prices of barrels headed Asia, according to a notice seen by S&P Global Platts Dec. 10.

KPC decreased its Kuwait Export Crude delivered to USGC by 30 cents/b to a $1.40/b premium to the Argus Sour Crude Index, or ASCI. The FOB KEC to the US also was lowered by 30 cents/b to ASCI plus 10 cents/b.

For KEC barrels bound for Northwest Europe in January, KPC lowered values by 50 cents/b to Dated Brent minus $1.35/b. The OSP differential for January loadings headed to the Mediterranean decreased by 30 cents/b to minus 40 cents against the same benchmark. The OSP differential for FOB Sidi Keri decreased 25 cents/b to Dated Brent plus 30 cents.

For Asia-bound barrels of KEC, KPC increased values by 65 cent/b to plus 25 cents/b against the average of Oman and Dubai crude assessments for December.

The differential for its Kuwait Super Light crude to Asia also increased, from minus 70 cents/b in December, to plus 10 cents/b in January.

KPC also increased its OSP differential for its Khafji crude by 40 cents/b to a 10 cents/b premium to Oman/Dubai.