Platts to discontinue Basrah Light assessments

S&P Global Platts will begin discontinuation of Iraqi Basrah Light crude assessments starting Nov. 1, 2021.

Platts understands Iraq's state marketer SOMO plans to halt exports of the grade from January 2022 and will no longer publish official selling prices for Basrah Light crude from December 2021.

As a result, on Nov. 1, Platts will discontinue its daily assessments for Basrah Light M2 (AALZB00) and Basrah Light M2 spread versus OSP (AALZF00) that would reflect January-loading cargoes in November. Platts will also discontinue its Basrah Light CFR North Asia daily assessment (PCAQK00) from Nov. 1, 2021.

Platts will continue to publish its daily assessments for Basrah Light M1 (AALZA00) and Basrah Light M1 spread versus OSP (AALZE00) in November as they reflect December-loading cargoes. Platts will discontinue both these assessments Dec. 1 when they would reflect January-loading barrels.

Also on Dec. 1. Platts will discontinue its Basrah Light assessments for barrels delivered to the US Gulf Coast. Platts will no longer assess Basrah Light (AAEJH00) and Basrah Light vs 2nd Line WTI (AAGWV00) and their associated monthly averages.

From Jan. 5, Platts will discontinue publication of Basrah Light OSP differentials and outrights globally.

These assessments appear in Crude Oil Marketwire, Oil Price Report, Price Average Supplement, Latin American Wire, Oil Arbitrage Wire and on Platts Global Alert fixed pages 2228, 2221, 2220, 2229, 2202, 2203, 214, 215, 1804, and 2228.

The following assessments will be discontinued Nov. 1, 2021:

Asia assessments Daily Monthly Average

Basrah Light M2 AALZB00 AALZB03

Basrah Light M2 spread versus OSP AALZF00 AALZF03

Basrah Light CFR North Asia assessment PCAQK00 PCAQK03

The following assessments will be discontinued from Dec. 1, 2021

Asia assessments Daily Monthly Average Pipeline Month Average

Basrah Light M1 AALZA00 AALZA03

Basrah Light M1 spread versus OSP AALZE00 AALZE03

US Gulf Coast assessments

Basrah Light AAEJH00 AAEJI00 AAEJI02

Basrah Light vs 2nd Line WTI AAGWV00 AAGWW00 AAGWW02

The following will be discontinued from Jan. 5, 2022

Official Selling Prices OSP Differentials Outright OSP

Basrah Asia AAIPE00 AAINM00

Basrah Euro AAIPH00 AAINP00

Basrah US AAIPG00 AAINO00

Please send any comments or questions to oilgroup@spglobal.com and pricegroup@spglobal.com.

Platts will consider all comments received and will make comments not marked as confidential available upon request.