• 15 mins Is A Russia-Cuba Energy Deal In The Works?
  • 3 days Iraq Begins To Rebuild Largest Refinery
  • 3 days Canadian Producers Struggle To Find Transport Oil Cargo
  • 3 days Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 3 days China's CNPC Considers Taking Over South Pars Gas Field
  • 3 days BP To Invest $200 Million In Solar
  • 3 days Tesla Opens New Showroom In NYC
  • 3 days Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 3 days Venezuela Sells Oil Refinery Stake To Cuba
  • 3 days Tesla Is “Headed For A Brick Wall”
  • 4 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 4 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 4 days Goldman Bullish On Oil Markets
  • 4 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 4 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 4 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 4 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 4 days Colombia Boosts Oil & Gas Investment
  • 5 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 5 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 5 days Aramco On The Hunt For IPO Global Coordinators
  • 5 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 5 days India Feels the Pinch As Oil Prices Rise
  • 5 days Aramco Announces $40 Billion Investment Program
  • 5 days Top Insurer Axa To Exit Oil Sands
  • 6 days API Reports Huge Crude Draw
  • 6 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 6 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 6 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 6 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 6 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 6 days Exxon To Start Reporting On Climate Change Effect
  • 7 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 7 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 7 days Forties Pipeline Could Remain Shuttered For Weeks
  • 7 days Desjardins Ends Energy Loan Moratorium
  • 7 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 7 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 7 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 10 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
Brent Soars As Canadian Crude Crashes

Brent Soars As Canadian Crude Crashes

The Forties Pipeline outage has…

Is The Oil Glut Set To Return?

Is The Oil Glut Set To Return?

Yet another bearish report from…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Platts To Include Norway’s Troll Crude In Brent Basket From 2018

Oil Platform

S&P Global Platts said on Monday that starting from January 2018, it will include Norway’s Troll crude grade in the Brent basket—a first such addition since 2007—in a bid to ensure that there will be sufficient deliverable North Sea crude reflected in the price assessments.

S&P Global Platts explained that Dated Brent—the physical cargoes of crude oil loading in the North Sea on any given day, and with specific delivery dates—is the core component of the Brent complex. The Brent crude complex is linked to physical cash BFOE (Brent Ninian Blend -Forties-Oseberg-Ekofisk), as well as financially settled derivatives.

When production from the namesake Brent field declined, Platts added Forties and Oseberg in 2002 and Ekofisk in 2007 to the price assessment.

Although production in the North Sea has stabilized now, the four grades in the BFOE basket are likely to decline further, and therefore, Platts “believes it is time to add another grade to the basket to ensure there is sufficient deliverable crude reflected in the price assessments,” it said.

In December 2016, Platts announced a formal proposal to include more grades to the Brent benchmark assessment. Last year, the Platts Dated Brent crude basket had steady supplies averaging 45 cargoes per month. However, Platts Analytics expects that production will decline to 20 cargoes of crude per month by 2025.

Related: Scotland Aims To Stimulate Oil Decommissioning With £5M Fund

Troll—a light sweet crude oil grade with a typical production of 10-15 cargoes of 600,000 barrels per month—differs from the rest of the BFOE complex in its acid content. While the acid content has been considered a challenge to adding Troll to the basket in the past, many refineries in Europe have been upgraded and diversified, and are now able to handle crudes of the Troll variety, Platts said.

Troll has generally been priced at a premium to Dated Brent, which means that it is unlikely to depress the value of the existing basket, said Platts, which has been assessing Troll as a grade since 2002.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News