S&P Global Platts has launched a daily assessment for Guyana's Liza crude, effective Feb. 16.
The assessment reflects the value of waterborne Liza crude loading on an FOB basis from the Liza Destiny Floating Production Storage and Offloading vessel offshore Guyana, 30 to 60 days forward. The typical cargo size is 1 million barrels.
The Liza assessment is 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-to-60 day loading window. In the absence of bids, offers, and trades for Liza, Platts may assess the crude based on spreads to comparable grades. Platts may also use market information provided on a delivered basis to inform this FOB assessment.
The assessments are published under the following Platts symbols:
ALIZA00 Liza FOB Guyana
ALIZA03 Liza FOB Guyana MAvg
ALIZC00 Liza FOB Guyana vs Latin America Brent Futures Strip
ALIZC03 Liza FOB Guyana vs Latin America Brent Futures Strip MAvg
ALIZB00 Liza FOB Guyana vs Latin America Dated Brent Strip
ALIZB03 Liza FOB Guyana vs Latin America Dated Brent Strip MAvg
ALIZD00 Liza FOB Guyana vs Latin America WTI Strip
ALIZD03 Liza FOB Guyana vs Latin America WTI Strip MAvg
Liza crude has a typical API gravity of 32 degrees and sulfur content of 0.58%, according to publicly available assays. Liza crude oil is produced by a joint venture operated by ExxonMobil affiliate Esso Exploration and Production Guyana Limited, together with Hess Guyana Exploration and CNOOC Petroleum Guyana Limited, according to ExxonMobil.
As of December 2020, Liza production had reached 120,000 b/d, according to Hess. Production is targeted at over 750,000 b/d by 2026.
The new assessments are available on Platts Global Alert pages 280 and 281. They are published in Crude Oil Marketwire, Latin American Wire and Oilgram Price Report.
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