Platts to launch Mexico OSP values, K factors for Zapoteco crude, additional Olmeca destinations

Platts, part of S&P Global Commodity Insights, will begin publishing official selling price calculations and K factors for Mexico's crude cargoes of Zapoteco and additional destinations for Olmeca, effective Sept. 11, 2023.

This follows Pemex's issuance of new K factors for cargoes of Zapoteco crude. The crude has an API between 29 and 29.9 and a sulfur level of 2.513%, and will load from Salina Cruz in Oaxaca.

There will be prices for Zapoteco bound for the US Gulf Coast, US West Coast, Europe and the Middle East, India and the Far East. The new values will appear alongside existing ones for Mexico's cargoes, and Platts will database the Zapoteco pricing formula, constant terms, or K factor, and final posting price for each destination separately.

Additionally, Platts will launch new values for Olmeca delivered into the US West Coast and Far East, following Pemex's issuance of new K factors for those destinations. Platts will database the Olmeca pricing formula, K factor and final posting price separately.

Platts will backfill the previously announced September K factors for these crudes as soon as the new prices are launched.

Additionally, to align with Pemex's formatting, Platts will update the appropriate table and publication labels to refer to flows to the "Far East." They currently appear under headers for "Asia, excluding India."

The daily and monthly average values for the new prices will be published on Platts Global Alert pages 1063 and 1064 as well as in Latin American Wire.

Please send all feedback or questions 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.