In line with developments in the Russian crude oil export market, S&P Global Platts will rename its ruble-denominated Urals FOB Ventspils calculated value as Urals FOB Baltic, effective March 1, 2019.
That will follows a proposal note sent on December 10, 2018, which can be viewed at https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/121018-pl atts-to-rename-ruble-denominated-urals-fob-ventspils-assessment.
The Urals FOB Ventspils calculated value, published in the Platts Crude Oil Marketwire and in Platts databases under the code AAUJQ00, represents the netback value of Urals crude oil loading from the Baltic Sea coast.
The calculation, published in rubles per barrel, is derived using the netback value of Urals ex-Baltic (AAGZT00) and the ruble to dollar exchange rate assessed at 4:30 pm London time (AAUJO00).
Over time, export routes for Russian crude oil have evolved and Platts understands that Ventspils is no longer a typical loadport for Urals.
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