LONDON, AUGUST 17, 2018 – Oil pricing agency S&P Global Platts on Thursday said it would publish prices for six small West African crude grades for the first time.
Using what it calls a market parity price model, S&P Global Platts said it would publish daily prices for Nigeria’s Amenam, EA Blend, Yoho, Asaramatoru and Abo grades as well as for Ghana’s TEN crude oil stream.
“Our new Market Parity Price models are an innovative way to reflect a price for crude grades that are too small for regular spot market liquidity that underpins a traditional daily price assessment, but are too important to be ignored,” Joel Hanley, senior Director for European & African Oil at S&P Global Platts, said.
In a statement, S&P Global Platts defined a market parity price as one that reflects the value of a particular crude grade based on its refining value and adjusted for additional costs, such as transportation.
S&P Global Platts publishes a series of benchmark price assessments for major grades of crude oil as well as refined products and competes with Thomson Reuters in providing news and information to the oil market.
