NGLs

October 25, 2024

Platts proposes to launch Indonesian Senoro condensate assessments Dec 2

Platts, part of S&P Global Commodity Insights, is proposing to launch daily assessments of Indonesia's Senoro condensate on an FOB basis, effective Dec. 2, 2024.

This follows Platts' observation of a resumption and increased exports of the condensate grade since 2023.

Senoro condensate is produced from the Senoro and Donggi Matindok gas fields in Central Sulawesi. It has an API gravity of 59.7 degrees with a sulfur content of 0.144%. Platts understands cargo sizes of Senoro condensate can vary, but typically range from 150,000 to 250,000 barrels.

The proposed Senoro condensate assessments would reflect cargo sizes of 150,000-250,000 barrels for loading on FOB basis from the Senoro Marine Terminal over the full calendar month two months forward from the month of publication.

Trades and price indications for other cargo sizes and loading month would be normalized to the standards these proposed assessments reflect.

Platts would publish an outright price assessment, as well as cash differentials to the grade's ICP and Platts Dated Brent for the month of loading, time-stamped to the 4.30 pm (0830 GMT) Asia close. Platts would also publish an outright price assessment at the 4.30 pm London close, accounting for the movement in the underlying Dated Brent benchmark from the Asia close until the London close. For example in October, Platts would assess outright prices and cash differentials against December Asia Dated Brent (ADB) Strip and ICP for Senoro condensate loading in December.

The assessments and their underlying pricing month basis would roll over on the first working day of the month.

Please send all feedback, comments or questions to Asia_Crude@spglobal.com and pricegroup@spglobal.com by Nov. 11, 2024.

For written comments, please provide a clear indication if comments are not intended for publication by S&P Global for public viewing.

S&P Global will consider all comments received and will make comments not marked as confidential available upon request.