As part of the commitment of S&P Global Platts to provide insight into new crude oil markets, Platts will begin publishing daily spot assessments of Norway's Johan Sverdrup crude loading FOB Mongstad from December 1, 2019.
Platts will assess 600,000 barrel cargoes of Johan Sverdrup loading 10 days forward to one month ahead from date of publication as both an outright price and as a differential to forward Dated Brent.
Production from Johan Sverdrup launched in early October, and the grade is set to become the largest single stream of crude in the North Sea by mid-2020, by daily volume. The first cargoes were made available for October-loading, with a full schedule of 15 cargoes scheduled to load in November.
Johan Sverdrup is a heavy, sweet crude with an API of 28 degrees and a sulfur content of 0.80%. The grade is a joint-venture between Norway's Equinor, Aker BP, Total and Lundin, with Equinor acting as the terminal operator.
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