15 Nov 2021 | 14:47 UTC

Platts launches carbon intensity calculations, carbon offset premiums for 70 crude fields Nov 15

S&P Global Platts begins publishing monthly carbon intensity calculations and daily carbon offset premium assessments for 70 additional crude oil fields, effective Nov. 15, 2021.

These new assessments will be added to the list of Platts' existing carbon intensity calculations, bringing the initial total of 14 to 84.

The decision note is available here: Platts to launch carbon intensity calculations, carbon offset premiums for 70 crude fields.

Platts started publishing monthly calculations of crude oil field carbon intensity in kilograms of carbon dioxide equivalent per barrel of oil equivalent (kgCO2e/boe); monthly calculations of transportation carbon intensity along one relevant route per crude in kilograms of carbon dioxide equivalent per barrel (KgCO2e/b); and daily offset premium assessments in $/b for both using the daily Platts Carbon Removal Credit (CRC) voluntary carbon credit assessment on Oct 1.

The launch note is available here: Platts launches monthly carbon intensity calculations, daily carbon offset premium assessments for 14 different crude fields.

Measuring the Carbon Intensity (CI) of different commodities has become one of the ways the market has started to calculate the greenhouse gas emissions from specific types of production.

The Platts Carbon Intensity methodology is designed to reflect the value of upstream production for a specific crude grade, which reflects CI in its value. The methodology guide for Platts upstream carbon intensity, midstream carbon intensity, and carbon offset premiums is available here: Specifications Guide Carbon Intensity Assessments.

As per the original 14 crude fields, the CI of these 70 new fields will be calculated using Stanford's Oil Production Greenhouse Gas Emissions Estimator (OPGEE) 2.0 model, combined with proprietary research and data from Platts Analytics.

Platts carbon intensity premiums for both the upstream and midstream calculations which reflect the cost to offset the emissions from each of the crudes, in addition to a separate premium reflecting the offsetting cost for each specific transportation route. Crude streams and different transportation routes have a variety of carbon intensities depending on where the crude comes from and the distance to the refinery.

Depending on the carbon intensity of each crude and carbon intensity of the route, the calculation is a $/b indication of how much it would cost to use the carbon removal credit to offset the associated GHG emissions from the production of the crude as well as the route in question.

These new assessments will be available in Crude Oil Marketwire; as well as in Platts Dimensions Pro and in the Platts Pricing database under the following codes:

Crude Field

Upstream CI KgC02e/boe

Upstream CI Premium $/boe

Transport Route

Transport CI KgC02e/barrel

Transport CI Premium $/barrel

Bates:

u

c

u

c

Alpine

ALPIC40

ALPIC00

Alaska to West Coast

ALPIC50

ALPIC10

Alvheim

ALVHC40

ALVHC00

Alvheim to Havre

ALVHC50

ALVHC10

Anadarko

ANADC40

ANADC00

Oklahoma to Gulfcoast

ANADC50

ANADC10

Appomattox

APPOC40

APPOC00

Appomattox to Changxing

APPOC50

APPOC10

Atlantis

ATLAC40

ATLAC00

Atlantis to Qingdao

ATLAC50

ATLAC10

Auger

AUGEC40

AUGEC00

Auger to Qingdao

AUGEC50

AUGEC10

Bakken-Canada

BAKKC40

BAKKC00

Canada to Midwest

BAKKC50

BAKKC10

Big-Foot

BIGMC40

BIGMC00

Bigfoot to Daesan

BIGCC50

BIGCC10

Buzzard

BZRDC40

BZRDC00

Houndpoint to Rotterdam

BZRDC50

BZRDC10

CA-Coast

CAMCC40

CAMCC00

Kern to SoCal

CAMCC50

CAMCC10

Captain

CAPTC40

CAPTC00

Captain to Hamburg

CAPTC50

CAPTC10

Cardium Shale

CARDC40

CARDC00

Cardium to Canada

CARDC50

CARDC10

Catcher

CATCC40

CATCC00

Catcher to Rotterdam

CATCC50

CATCC10

Chinook

CHINC40

CHINC00

Chinook to Changxing

CHINC50

CHINC10

Clair

CLAIC40

CLAIC00

Claire to Stanlow

CLAIC50

CLAIC10

CVE Christina Lake

CVECC40

CVECC00

Canada to Midwest

CVECC50

CVECC10

Denver-Julesburg

DENVC40

DENVC00

Denver to Gulfcoast

DENVC50

DENVC10

Devils-Tower

DEVIC40

DEVIC00

Devils to Daesan

DEVIC50

DEVIC10

Edvard-Grieg

EDVAC40

EDVAC00

Edvard-Grieg to Sarroch

EDVAC50

EDVAC10

Europa

EUROC40

EUROC00

Europa to Daesan

EUROC50

EUROC10

Firebag

FIREC40

FIREC00

Canada to Midwest

FIREC50

FIREC10

Foster Creek

FOSTC40

FOSTC00

Canada to Gulfcoast

FOSTC50

FOSTC10

Golden-Eagle

GOLDC40

GOLDC00

Golden-Eagle to Grangemouth

GOLDC50

GOLDC10

Goliat

GOLIC40

GOLIC00

Goliat to Rotterdam

GOLIC50

GOLIC10

Grane

GRANC40

GRANC00

Sture to Immingham

GRANC50

GRANC10

Great-White

GREAC40

GREAC00

Great-White to Changxing

GREAC50

GREAC10

Gulf-Coast-Louisiana

GULFC40

GULFC00

Louisiana to Texas

GULFC50

GULFC10

Gullfaks

GULLC40

GULLC00

Gullfaks to Brofjorden

GULLC50

GULLC10

Hebron

HEBRC40

HEBRC00

Hebron to Canada

HEBRC50

HEBRC10

Heidrun

HEIDC40

HEIDC00

Heidrun to Rotterdam

HEIDC50

HEIDC10

Hibernia

HIBEC40

HIBEC00

Hibernia to Canada

HIBEC50

HIBEC10

Horn-Mountain

HORNC40

HORNC00

Horn-Mountain to Qingdao

HORNC50

HORNC10

Ivar-Aasen

IVARC40

IVARC00

Ivar-Aasen to Rotterdam

IVARC50

IVARC10

Jack

JAKKC40

JAKKC00

Jack to Qingdao

JAKKC50

JAKKC10

Jackfish

JACKC40

JACKC00

Canada to Midwest

JACKC50

JACKC10

Julia

JULIC40

JULIC00

Julia to Daesan

JULIC50

JULIC10

Kirby Lake

KIRBC40

KIRBC00

Canada to Midwest

KIRBC50

KIRBC10

Kraken

KRAKC40

KRAKC00

Kraken to Rotterdam

KRAKC50

KRAKC10

Kuparuk-River

KUPAC40

KUPAC00

Alaska to US West Coast

KUPAC50

KUPAC10

Leo

LEOMC40

LEOMC00

Leo to Daesan Coast

LEOCC50

LEOCC10

Long Lake

LONGC40

LONGC00

Canada to Midwest

LONGC50

LONGC10

Lucius

LUCSC40

LUCSC00

Lucius to Qingdao

LUCSC50

LUCSC10

MacKay River

MCKAC40

MCKAC00

Canada to Rockies

MCKAC50

MCKAC10

Mad-Dog

MADAC40

MADAC00

Mad-Dog to Changxing

MADAC50

MADAC10

Mariner

MARIC40

MARIC00

Mariner to Pascagoula

MARIC50

MARIC10

MEG Christina Lake

MEGCC40

MEGCC00

Canada to Gulfcoast

MEGCC50

MEGCC10

Montney Shale

MONTC40

MONTC00

Montney to to

MONTC50

MONTC10

Oseberg

OSEBC40

OSEBC00

Sture to Rotterdam

OSEBC50

OSEBC10

Permian-Other

PERMC40

PERMC00

Corpus to Qingdao

PERMC50

PERMC10

Powder-River

POWDC40

POWDC00

Wyoming to Gulfcoast

POWDC50

POWDC10

Primrose/Wolf Lake

PRMWC40

PRMWC00

Canada to Midwest

PRMWC50

PRMWC10

Prudhoe-Bay

PRUDC40

PRUDC00

Alaska to West Coast

PRUDC50

PRUDC10

Salina

SALIC40

SALIC00

Kansas to Gulfcoast

SALIC50

SALIC10

San-Joaquin

SANMC40

SANMC00

San-Joaquin to Socal

SANAC50

SANAC10

Schiehallion

SCHIC40

SCHIC00

Schiellhallion to Rotterdam

SCHIC50

SCHIC10

Schrader-Bluff

SCHRC40

SCHRC00

Alaska to US West Coast

SCHRC50

SCHRC10

SCOOP-STACK

SCOOC40

SCOOC00

Oklahoma to Gulfcoast

SCOOC50

SCOOC10

Shenzi

SHENC40

SHENC00

Shenzi to Daesan

SHENC50

SHENC10

Snorre

SNORC40

SNORC00

Snorre to Statfjord

SNORC50

SNORC10

Statfjord

STATC40

STATC00

Statfjord to Rotterdam

STATC50

STATC10

Stones

STONC40

STONC00

Stones to Daesan

STONC50

STONC10

Sunrise

SUNRC40

SUNRC00

Canada to Midwest

SUNRC50

SUNRC10

Surmont

SURMC40

SURMC00

Canada to Gulfcoast

SURMC50

SURMC10

Tahiti

TAHIC40

TAHIC00

Tahiti to Yeosu

TAHIC50

TAHIC10

Thunder-Horse

THUNC40

THUNC00

Thunder-Horse to Qingdao

THUNC50

THUNC10

Troll

TROLC40

TROLC00

Mongstad to Rotterdam

TROLC50

TROLC10

Uinta

UINTC40

UINTC00

Northeast to Gulfcoast

UINTC50

UINTC10

Utica

UTICC40

UTICC00

Northeast to Gulfcoast

UTICC50

UTICC10

Valhall

VALHC40

VALHC00

Valhall to Rotterdam

VALHC50

VALHC10

Viking Shale

VIKIC40

VIKIC00

Canada to Midwest

VIKIC50

VIKIC10

Please send any feedback to Platts_Carbon@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. Platts will consider all comments received and will make comments not marked as confidential available upon request.