Platts to launch daily MPPs for Rabi Light, Zafiro crudes from June 21

S&P Global Platts will launch daily Market Parity Prices (MPPs) for Gabon's Rabi Light crude and for Equatorial Guinea's Zafiro crude, from June 21, 2021.

Platts will also publish differentials for both MPPs versus the 30-60 day forward Dated Brent strip, in line with Platts existing West African crude spot assessments.

The values will be published under the following Platts symbols:

Rabi Light MPP: ARABA00

Rabi Light MPP vs WAF Dated Strip: ARABB00

Zafiro MPP: AAXTU00

Zafiro MPP vs WAF Dated Strip: AZAFB00

The MPP calculation for Rabi Light and Zafiro will be based on the grades' Gross Product Worth benchmarked to a reference basket of relevant crude grades that are actively traded in the regional spot market. These grades are Angola's Dalia, Hungo and Girassol, and Nigeria's Bonga. The four basket grades and Rabi Light and Zafiro will be normalized to reflect delivery to North West Europe, accounting for freight and regional refining input prices.

Platts will review the MPP model for Rabi Light and Zafiro annually to ensure they continue to reflect prevailing market conditions and quality of the crude grades.

The new assessments will be published in the Platts pricing database from June 21, and in Crude Oil Marketwire, and on Platts Global Alert page 1270, from July 1.

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.