Platts launches 15 additional West African crude oil Market Parity Prices

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

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

The new prices are 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 are Nigeria's Agbami, Bonny Light, Forcados and Qua Iboe.

For Antan Blend, Ebok, Eremor, and Jones Creek Blend these reference grades are 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 are 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.

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