Platts amends assessment basis for Qatar Land, Qatar Marine crude grades

Platts, a part of S&P Global Commodity Insights, has with immediate effect changed the benchmark reference used in its assessment of Qatar Marine and Qatar Land crude grades to Platts Dubai from the previous reference that comprised the average of Platts Dubai and Platts Oman assessments.

The change follows QatarEnergy's announcement in December, switching the official selling price for the two grades to reference Platts Dubai for cargoes loading from January 2023.

Previously, QatarEnergy set the OSP for the two grades as a differential to the monthly average of Platts Dubai and Platts Oman assessments.

Effective Dec. 12, Platts assessment of Qatar Land spread versus OSP (AAKUJ00) and Qatar Marine spread versus OSP (AAKUH00) reflect differential to the new OSP mechanism. Platts outright assessment for Qatar Land (AAKNP00) and Qatar Marine (AAKNR00), for cargoes loading two months from the month of assessment, comprise the projected OSPs for the month of loading plus the respective spread to the OSP.

These assessments are published on Platts Global Alert pages 2220 and 2232, Crude Oil Marketwire, Oilgram Price Report and OPR Price Supplement.

On June 1, Platts launched differentials for Qatar Land and Qatar Marine against benchmark Platts Dubai assessments. More details on these assessments can be found here.

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