Platts launches Kazakh Export Blend Crude Oil assessments

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

The move followed 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

A decision note was published Oct. 28 and is available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/102822-platts-to-launch-kazakh-export-blend-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 has launched 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 are 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

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