Platts to launch second-month ESPO crude assessment

Following industry feedback to its notice on September 6, Platts has decided to move ahead and launch a second-month price assessment for Russia's East Siberian Pacific Oil or ESPO crude oil, exported from the Far East port of Kozmino, effective 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 16:30 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.

Please send comments or queries to asia_crude@platts.com and pricegroup@platts.com.