Crude Oil

March 07, 2024

Platts to amend cargo sizes for West African crude assessments

In line with evolving trends in the region, and loading programs for 2024 cargoes, S&P Global Commodity Insights will amend the cargo size on some of its West African crude assessments, effective April 2.

Platts will amend the basis volume for the following assessments from April 2:

Country Grade New assessment basis (barrels) Current assessment basis (barrels)
Nigeria Agbami 1,000,000 975,000
Nigeria Bonga 1,000,000 975,000
Nigeria Usan 1,000,000 950,000
Angola Plutonio 1,000,000 950,000

Platts will also amend min and max volumes for the following grades:

Country Grade New minimum (barrels) New maximum (barrels) Current min/max (barrels)
Nigeria Bonny Light 950,000 1,000,000 950,000/950,000
Nigeria Forcados 950,000 1,050,000 950,000/950,000
Nigeria Agbami 1,000,000 1,000,000 975,000/975,000
Nigeria Bonga 950,000 1,050,000 975,000/975,000
Nigeria Usan 1,000,000 1,000,000 950,000/950,000
Angola Plutonio 1,000,000 1,000,000 950,000/950,000

Assessments not listed in the tables above will have no volume amendments.

Where the minimum and maximum volumes vary from the basis volume, Platts will publish bids, offers and trades for volumes within the range that are not the basis volume, however, these may be subject to normalization for assessment purposes.

Please send all comments to europe_crude@spglobal.com and pricegroup@spglobal.com.

For written comments and questions, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts is part of S&P Global Commodity Insights.