Platts launches Hebron crude assessment

Platts, part of S&P Global Commodity Insights, has launched daily assessments for Hebron crude as an outright price and as a differential to the Canada Dated Brent Strip, effective June 1, 2022.

The new assessments reflect the value of Hebron crude based on spot transactions for cargoes loading 30 to 60 days forward from the date of publication. The outright price is derived from the forward value of Dated Brent, with pricing typically one to five days after loading. The Canadian cargo markets are assessed at 4:30 pm London time. The assessments are published in US dollars per barrel as well as Canadian dollars per cubic meter. Associated monthly averages of the assessments also will be published. The Hebron assessment reflects barrels loading FOB terminal basis Whiffen Head, Newfoundland, Canada. The typical cargo size is 640,000 barrels, with a minimum of 550,000 barrels and a maximum of 960,000 barrels.

S&P Global already publishes daily Canadian cargo assessments for Hibernia, Terra Nova and White Rose crudes as outright prices and as differentials to the Canada Dated Brent Strip. The new Hebron assessment will help market participants better analyze crude flows offshore Newfoundland and Labrador, and gauge how Hebron competes with competing crudes going to Europe and the US Gulf Coast.

The Hebron assessments are published in Crude Oil Marketwire, North American Crude and Products scan, Oilgram Price Report, as well as on Platts Global Alert and Platts Crude Alert pages 230, 231, and 233.

The descriptions and symbols are as follows:

AHEBA00 Hebron FOB Canada $/bbl

AHEBA03 Hebron FOB Canada $/bbl MAvg

AHEBB00 Hebron FOB Canada C$/CBM AHEBB03 Hebron FOB Canada C$/CBM MAvg

AHEBC00 Hebron FOB Canada vs Canada Dated Brent Strip $/bbl

AHEBC03 Hebron FOB Canada vs Canada Dated Brent Strip $/bbl MAvg

Please send any feedback or questions to americas_crude@spglobal.com and pricegroup@spglobal.com.