Platts to launch Kazakh Export Blend Crude Oil assessments

Following a period of research, Platts, part of S&P Global Commodity insights, will launch assessments for Kazakh Export Blend Crude Oil (KEBCO), effective Nov. 1, 2022.

This follows a wider Platts consultation on its European oil assessments that reflect the spot value of Russian crude and crude exports from Russian ports.

The consultation was launched June 22 and the subscriber note is available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/062222-platts-opens-consultation-on-european-crude-oil-assessments-that-reflect-russian-crude-exports-from-russian-ports

The consultation was subsequently extended to Aug. 12 and the subscriber note is available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081222-platts-extends-consultation-period-on-european-espo-siberian-light-urals-crude-oil-assessments

Platts also consulted on the spot market for Kazakh-origin Urals cargoes which make up a proportion of the typical export volumes loaded from Novorossiisk. Based on market feedback, Platts will launch new assessments in acknowledgment of the developing distinction in origin and spot value of KEBCO cargoes compared with Russian Export Blend Crude Oil (REBCO).

The new assessments will be published on a CIF Augusta basis as both an outright price and a differential versus Forward Dated Brent under the following codes:

Symbol Description

KBCOA00 Kazakh Export Blend (KEBCO) CIF Med $/b

KBCOA03 Kazakh Export Blend (KEBCO) CIF Med $/b MAvg

KBCOB00 Kazakh Export Blend (KEBCO) CIF Med vs Med Dtd Strip $/b

KBCOB03 Kazakh Export Blend (KEBCO) CIF Med vs Med Dtd Strip $/b MAvg

Please send all feedback, comments or questions to europe_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.