Platts to retain name of ExxonMobil California crude posted prices

Platts, part of S&P Global Commodity Insights, will not rename its ExxonMobil California crude posted prices as originally announced in a subscriber note published Oct. 30.

After receiving feedback from market participants, Platts decided to retain the ExxonMobil name for the daily posted prices of California crude grades Midway Sunset and Buena Vista.

Feedback said the ExxonMobil name was referenced in multiple contracts and was still considered to be the name of the posted prices, despite ExxonMobil having divested its California crude oil production assets.

ExxonMobil sold its interest in the California oil production business Aera to Green Gate Resources, which now has the responsibility of posting the daily crude prices.

While the ExxonMobil posted prices are now published on Green Gates website, there will be no change to the publication of the postings.

The posted prices are published on Platts Global Alert page 251.

Please send any feedback or questions to americas_crude@spglobal.com and pricegroup@spglobal.com.

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