Platts launches Mexico's OSP values, K factors for Zapoteco crude, additional Olmeca destinations

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

The decision was announced on Aug. 28: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/082823-platts-to-launch-mexico-osp-values-k-factors-for-zapoteco-crude-additional-olmeca-destinations

This follows Pemex's issuance of new K factors for cargoes of Zapoteco crude, which has an API between 29.0 and 29.9 and a sulfur level of 2.513%, and will load from Salina Cruz in Oaxaca.

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

Additionally, Platts has launched 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 is databasing the Olmeca pricing formula, K factor and final posting price separately.

Platts has backfilled the previously announced September K factors for these crudes.

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

The new prices can be found under the following symbols:

AECAE00 Olmeca Constant (Far East)

AECAD00 Olmeca Formula (Far East)

AECAD03 Olmeca Formula (Far East) MAvg

AECAF00 Olmeca Far East Posting (Formula + K)

AECAF03 Olmeca Far East Posting (Formula + K) MAvg

AECAB00 Olmeca Constant (USWC)

AECAA00 Olmeca Formula (USWC)

AECAA03 Olmeca Formula (USWC) MAvg

AECAC00 Olmeca USWC Posting (Formula + K)

AECAC03 Olmeca USWC Posting (Formula + K) MAvg

AVAXB00 Zapoteco Constant (USGC)

AZAPA00 Zapoteco Formula (USGC)

AZAPA03 Zapoteco Formula (USGC) MAvg

AVAXC00 Zapoteco USGC Posting (Formula + K)

AVAXC03 Zapoteco USGC Posting (Formula + K) MAvg

AVAXE00 Zapoteco Constant (USWC)

AVAXD00 Zapoteco Formula (USWC)

AVAXD03 Zapoteco Formula (USWC) MAvg

AVAXF00 Zapoteco USWC Posting (Formula + K)

AVAXF03 Zapoteco USWC Posting (Formula + K) MAvg

AVAXH00 Zapoteco Constant (Europe)

AVAXG00 Zapoteco Formula (Europe)

AVAXG03 Zapoteco Formula (Europe) MAvg

AVAXI00 Zapoteco Europe Posting (Formula + K)

AVAXI03 Zapoteco Europe Posting (Formula + K) MAvg

AVAXK00 Zapoteco Constant (India)

AVAXL00 Zapoteco Formula (India)

AVAXL03 Zapoteco Formula (India) MAvg

AVAXJ00 Zapoteco India Posting (Formula + K)

AVAXJ03 Zapoteco India Posting (Formula + K) MAvg

AVAXN00 Zapoteco Constant (Far East)

AVAXM00 Zapoteco Formula (Far East)

AVAXM03 Zapoteco Formula (Far East) MAvg

AVAXO00 Zapoteco Far East Posting (Formula + K)

AVAXO03 Zapoteco Far East Posting (Formula + K) MAvg

The daily and monthly average values for the new prices are 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.