Platts proposes launch of Tupi FOB Brazil assessment

Adding to its suite of FOB assessments for significant Latin America crude oil grades, S&P Global Platts is proposing the launch of an assessment for Tupi FOB Brazil, effective Oct. 11, 2021.

This new FOB value complements Platts existing Tupi DES Qindao assessment (symbol: LUQDA00), which reflects the value of 1 million-barrel cargoes discharged from a VLCC and delivered to China, three months forward.

Tupi production is approaching 1 million b/d, according to the Brazil National Petroleum Agency, and the grade has become the most prevalent Brazil crude export.

Platts Tupi FOB assessment would reflect 2 million-barrel VLCC cargoes loading 30-60 days forward via ship-to-ship transfer at Porto do Acu.

Like Platts other Latin America crude assessments, Tupi FOB Brazil would be published as an outright value and as a differential to the 30-60 day Dated Brent, ICE Brent, and NYMEX WTI strips.

Please send any feedback or questions by Sept. 10, 2021, to Americas_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 to the public upon request.