Platts starts publishing Iran's Pars crude OSP from January 2023

Platts, part of S&P Global Commodity Insights, has begun publishing official selling prices set by National Iranian Oil Company (NIOC) for Pars crude oil from January 2023.

Platts first announced its decision to publish these OSPs in a subscriber note published Dec. 22, 2022: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/122222-platts-to-publish-irans-pars-crude-osp-from-january-2023 .

In December, NIOC began publishing the OSP for the crude grade bound for Asia as a differential against the monthly average of Platts Dubai and Platts Oman on a forward-month basis. NIOC sets the OSP for January-loading Pars crude at minus $2.95/b to benchmark Platts Dubai/Oman average.

In January 2023, Platts will publish Pars OSP differentials as announced by NIOC for cargoes loading in February 2023 under the new symbol APRSA00.

Platts will also publish the Pars crude outright OSP by adding the differential as set by NIOC to the monthly average of Platts Dubai and Platts Oman for the month of loading under the new symbol APRSB00.

The Pars OSP will be published alongside the existing OSPs of NIOC's other crude oil grades on Platts Global Alert page 1057. The medium sour grade, which is produced in the West Karoun fields, has an API of 22.4 and sulfur content of 4.25%, according to a recent assay.

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