Platts to launch additional assessments of Venezuelan crude Oct. 5

Platts, part of S&P Global Energy, will launch daily assessments for Venezuela's Merey 16 crude on a free-on-board basis from Venezuela, as well as assessments for Boscan and Hamaca on a delivered-at-port basis along the US Gulf Coast, effective Oct. 5.

The Merey 16 assessment will reflect the value of waterborne Merey 16 crude loading 30-60 days forward, on a FOB basis from the Port of Jose Terminal in Venezuela.

The assessments for Boscan and Hamaca will reflect the value of waterborne Boscan and Hamaca delivering 30-60 days forward, on a DAP basis along the United States Gulf Coast.

The typical cargo size for all three assessments is 500,000 barrels.

The assessments will be published as an outright price, as well as differentials to the Latin America Dated Brent strip, Latin America Brent Futures strip and Latin America WTI strip, which align with a 30–60-day delivery window.

Merey 16 crude has a typical API gravity of 16 degrees and sulfur content of 3.4%. Boscan crude has a typical API gravity of 10.6 degrees and sulfur content of 5.4%. Hamaca crude has a typical API gravity of 21.2 degrees and a sulfur content of 2.2%.

In the absence of bids, offers, and trades for these crudes, Platts may assess the crude based on spreads to comparable grades. Platts may also use market information provided on a FOB basis to inform the DAP assessments.

Platts assessments reflect non-sanctioned material. Bids and offers that contain statements surrounding delivery of embargoed or sanctioned materials will be reviewed by Platts for publication and may be subject to normalization in value.

These additional assessments follow the launch of Merey 16 DAP USGC assessments March 31 .

The new assessments will be available on Platts Global Alert and Platts Crude Oil Alert pages 280 and 281. They will be published in Crude Oil Marketwire, Latin American Wire and Oilgram Price Report.

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