S&P Global Platts to update Qatar crude OSP calculation

S&P Global Platts will update the formula used to calculate official selling prices for Qatar Marine and Qatar Land cargoes effective February 1, 2020 to reflect recently announced changes by Qatar.

Qatar Petroleum for Sale of Petroleum Products Company in December announced that it will begin issuing prospective OSP differentials for Qatar Land and Qatar Marine crudes from February.

Platts understands the OSP differentials for both the grades will be basis monthly averages of Platts Dubai and Platts Oman crude assessments.

In February, Platts will publish retroactive January OSPs for Qatar Marine and Qatar Land crude, and prospective March OSP differentials for both grades as issued by QPSPP.

In March, Platts will publish retroactive February OSPs and prospective April OSP differentials for both grades as issued by QPSPP.

Subsequently, Platts will publish the monthly prospective OSP differentials for both grades as issued by QPSPP, as well as the calculated outright OSPs using the monthly averages of Platts Dubai and Platts Oman crude assessments.

The new prospective OSP differentials will be published under codes OSQLP00 for Qatar Land and OSQMP00 for Qatar Marine in the Platts price database and on Platts Global Alert page 1067.

The outright OSPs will be published under the existing codes AAINK00 for Qatar Land and AAINL00 for Qatar Marine.

Please send all feedback or questions to asia_crude@spglobal.com and pricegroup@spglobal.com.

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