New York — Kuwait Petroleum Corp. raised its February official selling prices for crude bound for Asia, while it lowered prices of its crude heading to the United States and Europe, according to a notice seen by S&P Global Platts Jan. 11.
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KPC raised the OSP differential of its Asia-bound barrels of Kuwait Export Crude by 40 cent/b to plus 65 cents/b against the average of Oman and Dubai crude assessments for February.
The differential for its Kuwait Super Light crude to Asia also increased, from plus 10 cents/b in January, to plus 60 cents/b for February.
KPC also increased its OSP differential for its Asia-bound Khafji crude by 20 cents/b to a 30 cents/b premium to Oman/Dubai.
Meanwhile, KPC decreased the February price of KEC delivered to USGC by 5 cents/b to a $1.35/b premium against the Argus Sour Crude Index, or ASCI. The FOB KEC to the US also was lowered by 5 cents/b to ASCI plus 5 cents/b.
For KEC barrels bound for Northwest Europe in February, KPC lowered values by 80 cents/b to Dated Brent minus $2.15/b. The OSP differential for February loadings headed to the Mediterranean was also decreased by 80 cents/b to minus $1.20/b against the same benchmark. The OSP differential for FOB Sidi Keri decreased $1/b to Dated Brent minus 70 cents/b.