Platts proposes to launch Brunei's Champion crude, Australia's Wheatstone condensate assessments Aug. 3

Platts, part of S&P Global Energy, is proposing to launch daily assessments of Brunei's Champion crude and Australia's Wheatstone condensate, on FOB basis, effective Aug. 3, 2026.

This follows Platts' observation of an increase in spot cargo activity for Champion crude and consistent flow of spot cargo activity for Wheatstone in recent years.

Champion crude is produced from the Champion oil field in Brunei. It has an API gravity of 28.83 degrees with a sulfur content of 0.11%.

Wheatstone condensate is produced from the Wheatstone, Lago, Julimar and Brunello gas fields in Western Australia. It has an API gravity of 63.2 degrees, with a sulfur content of less than 0.05%.

The proposed Champion crude assessments would reflect cargo sizes of 300,000 barrels for loading on FOB basis from Seria Crude Oil Terminal, while the proposed Wheatstone condensate assessments would reflect cargo sizes of 650,000 barrels for loading on FOB basis from Wheatstone Marine Terminal.

All the assessments would reflect loading over the full calendar month two months forward from the month of publication, in line with the typical crude oil trading cycle in the Asia Pacific region and existing assessments of crude oil grades in this region.

Trades and price indications for other cargo sizes and loading month would be normalized to the standards these proposed assessments reflect.

Platts would publish an outright price assessment, as well as cash differentials to Platts Dated Brent for the month of loading, time-stamped to the 4:30 pm (0830 GMT) Asia close. Platts would also publish an outright price assessment at the 4:30 pm London close, accounting for the movement in the underlying Dated Brent benchmark from the Asia close until the London close.

For example, in May, Platts would assess outright prices and cash differentials against the July Asia Dated Brent (ADB) Strip for cargoes loading in July.

The assessments and their underlying pricing month basis would roll over on the first working day of the month.

Please send all feedback, comments or questions to Asia_Crude@spglobal.com and pricegroup@spglobal.com by June 19, 2026.

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 to the public upon request.