New assessment for Colombia's Magdalena crude

Platts proposes launching a new assessment for Colombia's Magdalena crude beginning April 2, 2012.

Production of the crude has increased, leading to ample exports to the US Gulf Coast and other regions.

Magdalena crude has a gravity of 20 API and 1.6% sulfur content.

It is exported in 300,000-barrel cargoes from the Colombian port of Covenas.

Platts will assess Magdalena on an FOB Covenas basis, and assessments will reflect the value of cargoes loading 15-45 days after the date of assessment.

The new price assessment will appear on Platts Global Alert page 280, in Crude Oil Marketwire and in Platts Latin American Wire.

Please send questions or comments by March 9, 2012 to americas_crude@platts.com and pricegroup@platts.com.