Platts launches daily MPPs for Rabi Light, Zafiro crudes

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

Platts also publishes 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 are 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 is 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 are 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 are 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.

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