Platts proposes launch of new ESPO crude assessment, November 1

Platts proposes to launch a second-month price assessment for Russia's East Siberian Pacific Oil (ESPO) crude, exported from the Far East port of Kozmino, from November 1, 2011.

The new FOB assessment will be based on cargoes loading 45 to 75 days from the date of publication. It will be published daily at the Singapore close, and be labeled ESPO M2.

The new second-month assessment will run concurrently with Platts existing ESPO assessment, which is based on cargoes loading 15 to 45 days forward.

Platts is making this proposal to reflect the fact that ESPO loading schedules have moved to two months forward.

Please send comments or queries to asia_crude@platts.com and pricegroup@platts.com by October 7, 2011.