Platts launches carbon intensity calculations, carbon offset premiums for 20 crude fields Feb 15

S&P Global Platts begins publishing monthly carbon intensity calculations and daily carbon offset premium assessments for 20 additional crude oil fields, effective Feb. 15, 2022.

These new assessments are added to the list of Platts' existing carbon intensity calculations, bringing the current total of 84 to 104.

Platts started publishing monthly calculations of crude oil field carbon intensity in kilograms of carbon dioxide equivalent per barrel of oil equivalent (KgCO2e/boe); monthly calculations of transportation carbon intensity along one relevant route per crude in kilograms of carbon dioxide equivalent per barrel (KgCO2e/bbl); and daily offset premium assessments in $/boe and $/bbl respectively, for both using the daily Platts Carbon Removal Credit (CRC) voluntary carbon credit assessment on Oct. 1.

The launch note is available here: Platts launches monthly carbon intensity calculations, daily carbon offset premium assessments for 14 different crude fields | S&P Global Platts (spglobal.com)

The Platts Carbon Intensity methodology is designed to reflect the value of upstream production for a specific crude field, which reflects CI in its value. The methodology guide for Platts upstream carbon intensity, midstream carbon intensity, and carbon offset premiums is available here: Specifications Guide Carbon Intensity Assessments | S&P Global Platts (spglobal.com)

As per the current 84 crude fields, the CI of these 20 new fields are calculated using Stanford's Oil Production Greenhouse Gas Emissions Estimator (OPGEE) 2.0 model, combined with proprietary research and data from Platts Analytics.

Platts carbon intensity premiums for both the upstream and midstream calculations which reflect the cost to offset the emissions from each of the crudes, in addition to a separate premium reflecting the offsetting cost for each specific transportation route. Crude streams and different transportation routes have a variety of carbon intensities depending on where the crude comes from and the distance to the refinery.

Depending on the carbon intensity of each crude and carbon intensity of the route, the calculation is a $/b indication of how much it would cost to use the carbon removal credit to offset the associated GHG emissions from the production of the crude as well as the route in question.

These new assessments will be available in Crude Oil Marketwire; as well as in Platts Dimensions Pro and in the Platts Pricing database under the following codes:

Please send any feedback to Platts_Carbon@spglobal.com and pricegroup@spglobal.com. 

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.