Platts to launch 15 additional West African crude oil Market Parity Prices

Effective July 1, 2022, Platts, part of S&P Global Commodity Insights, will launch 15 additional West African crude oil Market Parity Prices (MPPs).

Alongside the additional outright price MPPs, Platts will also publish differentials versus the 30-60 day forward Dated Brent strip, in line with its existing West African crude oil spot assessments.

The new prices will be published under the following Platts symbols:

Platts MPP calculations are based on each grade's gross product worth benchmarked to a reference basket of relevant crude grades that are actively traded in the regional spot market.

For Aje, CJ Blend, Ima, Okono Blend, Okoro, Okwori, Otakikpo, Oyo, Pennington, Sankofa, and Ukpokiti these reference grades will be Nigeria's Agbami, Bonny Light, Forcados and Qua Iboe.

For Antan Blend, Ebok, Eremor, and Jones Creek Blend these reference grades will be Angola's Dalia, Girassol, Hungo, and Nigeria's Bonga.

The reference baskets, calculated outright prices, and differentials are normalized to reflect delivery to Northwest Europe, accounting for freight and regional refining input prices.

Platts reviews its MPP model annually to ensure it continues to reflect prevailing market conditions and quality of the crude grades.

The new calculations will be published alongside the existing set of MPPs in Crude Oil Marketwire and on Platts Global Alert and Platts Crude Alert page 1270.

Please send all feedback, comments or questions to europe_crude@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.