Platts discontinues Asia, USGC Basrah Light assessments

S&P Global Platts has discontinued its Asia and US Gulf Coast delivered assessments for Iraqi Basrah Light crude on Dec. 1, 2021.

Platts understands Iraq's state marketer SOMO plans to halt exports of the grade from January 2022 and will no longer publish official selling prices for Basrah Light crude from December 2021. Platts announced plans to discontinue publication of several Basrah Light crude assessments and OSPs in a subscriber note published Oct 28: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/102821-platts-to-discontinue-basrah-light-assessments.

On Dec. 1 Platts has discontinued its daily assessments for Basrah Light M1 (AALZA00) and Basrah Light M1 spread versus OSP (AALZE00) that would reflect January-loading cargoes in December. Platts also discontinued its Basrah Light assessments for barrels delivered to the US Gulf Coast. Platts no longer publishes assessment for Basrah Light (AAEJH00) and Basrah Light vs 2nd Line WTI (AAGWV00) and their associated monthly averages.

On Nov. 1, Platts discontinued its daily assessments for Basrah Light M2 (AALZB00), Basrah Light M2 spread versus OSP (AALZF00) and Basrah Light CFR North Asia daily assessment (PCAQK00): https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/110121-platts-discontinues-asia-basrah-light-m2-assessments.

From Jan. 5, Platts will discontinue publication of Basrah Light OSP differentials and outrights globally.

Separately, Platts has announced plans to launch Basrah Medium assessments on a CFR North Asia basis from Jan. 3, 2022: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/110921-platts-to-launch-basrah-medium-cfr-north-asia-assessment-jan-3-2022 These assessments appear in Crude Oil Marketwire, Oil Price Report, Price Average Supplement, Latin American Wire, Oil Arbitrage Wire and on Platts Global Alert fixed pages 2228, 2221, 2220, 2229, 2202, 2203, 214, 215, 1804, and 2228.

The following assessments were discontinued from Nov. 1, 2021.

Asia assessments Daily Monthly Average Basrah Light M2 AALZB00 AALZB03 Basrah Light M2 spread versus OSP AALZF00 AALZF03 Basrah Light CFR North Asia assessment PCAQK00 PCAQK03.

The following assessments were discontinued from Dec. 1, 2021.

Asia assessments Daily Monthly Average Pipeline Month Average Basrah Light M1 AALZA00 AALZA03 Basrah Light M1 spread versus OSP AALZE00 AALZE03 US Gulf Coast assessments Basrah Light AAEJH00 AAEJI00 AAEJI02 Basrah Light vs 2nd Line WTI AAGWV00 AAGWW00 AAGWW02.

The following will be discontinued from Jan. 5, 2022.

Official Selling Prices OSP Differentials Outright OSP Basrah Asia AAIPE00 AAINM00 Basrah Euro AAIPH00 AAINP00 Basrah US AAIPG00 AAINO00.

Please send any comments or questions to oilgroup@spglobal.com and pricegroup@spglobal.com. Platts will consider all comments received and will make comments not marked as confidential available upon request.