As part of the commitment of S&P Global Platts to provide insight into new crude oil markets, Platts has launched assessments for Nigeria's Egina grade from October 1, 2019.
Exports began from the Egina FPSO at the start of 2019, quickly becoming one of Nigeria's largest crude export grades, averaging six cargoes per month. Egina is a heavy, sweet crude with an API of 27.3 degrees and a sulfur content of 0.24%. The field was developed as a joint venture with Total, CNOOC, Sapetro and Petrobras. The terminal is operated by Total.
Platts' Egina assessments will be available on Platts Global Alert page 1230, Crude Oil Marketwire, Oilgram Price Report and in the Platts pricing database under the following codes:
|Egina vs Fwd Dated Brent||AFONB00|
Platts will assess spot cargoes of Egina loading 25-55 days forward, in line with its existing Nigeria assessments, and versus forward Dated Brent 30-60 days forward.
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