Platts introduces quality premiums(QP) FOB North Sea

Platts will introduce Quality Premiums for Oseberg and Ekofisk crude oil in its North Sea Dated Brent,cash Brent (BFOE) and related assessment processes. Under its updated methodology, Quality Premiums are to be paid by buyer to seller for the nomination and delivery of Oseberg or Ekofisk into a physical BFOE transaction concluded during the Platts Market on Close assessment process. These escalators will also be considered in the Platts assessment process for Dated Brent, and related instruments as well.

Assessments will be published in Platts Crudeoil Marketwire, OPR and on PGA pages 1210 and 1212.

Launch date is scheduled for May 1, 2013.