Community, content, and conversation, all at your fingertips. Listen: What the OPEC+ deal means for market volatility, US crude production, S&P Global Platts Opens Consultation on Inclusion of WTI Midland Crude in Dated Brent, S&P Global Platts proposes inclusion of WTI crude in Dated Brent benchmark, https://www.spglobal.com/platts/global-energy-awards/attend, Infographic: A global oil benchmark: Key US crude grade could join Dated Brent, Americas Petroleum and Energy Virtual Conference. Since crude exports from the US restarted in 2015, WTI Midland has become a mainstay for European crude imports and a core part of the North Sea crude oil market. Over the past three months, the Platts Northwest European HVO assessments were approximately 4.2 times the price of ultra-low sulphur diesel, having averaged $1,388.5 /mt, while the Platts ultra-low sulphur diesel assessments in the same region averaged $332.6. Please send all comments, feedback and questions to Europe_Crude@spglobal.com and pricegroup@spglobal.com. Where does the Americas energy sector stand amid a global pandemic? Evolution of Platts European fuel oil price assessments, Congress passes ITC and PTC 'extender bill' for renewables, but confusion injected by Trump, Commodity Prices and Essential Market Data, Americas Petroleum & Energy Virtual Conference. Europe’s three biggest oil majors, for example, plan to spend on average about 8% of their total capex on renewables and low-carbon investments this year. Platts also publishes assessments for Cash BFOE three months forward. Evolution of the Marine Fuel 0.5% pricing in the wake of the big switch to IMO-2020 compliances. Reigniting Operations and Reemerging Post-Pandemic Where does the Americas energy sector stand amid a global pandemic? Often referred to as portfolio “high-grading”, the sale of more costly, carbon-intensive assets by the oil majors will likely ramp up in the coming years as players prioritize developing of resources most resilient to lower future oil prices. S&P Global Platts US Gulf Coast 3%S residual fuel oil assessment is a benchmark assessment that reflects the price of high-sulfur fuel oil at five locations within the Houston Ship Channel of Texas. Consolidation in the carrier... PlattsOil: Risk and governance: Essential insight, visionary solutions..... APPEC goes virtual. LOADING PROGRAM: In order to ensure full transparency Platts would publish a daily virtual loading program for WTI Midland reflecting the cargoes available to be bid and offered on an STS Scapa Flow basis 10 days forward to one month ahead. Rajesh Nair, Managing Editor, Asia & Middle East Residual oil markets, S&P Global Platts. — Take it all with you—Use the tool to take notes, then export them (and share with other attendees). Following significant growth of US crude exports before the pandemic and then the April 20 price collapse of the NYMEX WTI contract, S&P Global Platts launched its AGS assessment for waterborne cargoes […]. Recovery in demand for jet fuel will be slow. But that is down roughly 2 million b/d on the year, and many analysts expect little change for 2021. If you have any questions or concerns please contact support@platts.com or click here, Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center. “In an efficient market there has to be sufficient return to bring on new supply and probably the divergence between European and American majors is the fact that American majors think that demand might be a bit stronger in the near term at least,” Klein said. Specifically, Platts invites views on the merits of expanding the group of crudes reflected in its benchmark North Sea crude assessments, any logistical considerations including around the proposed virtual loading program, the possible inclusion of a quality premium, and the potential timing of such an update. Like many of its oil major peers, Shell has prioritized lower-cost upstream assets in recent years, selling off parts of its legacy portfolio and investing in large-scale gas assets and higher-margin deepwater and US tight oil acreage. The US majors, which lag their European peers on green investments, have yet to even quantify their spending on renewables and low-carbon projects. We’ll bring together an established community of petroleum players to network and discuss how. For further details about this gala and how to attend, please visit https://www.spglobal.com/platts/global-energy-awards/attend. The most commonly used fuels for commercial aviation are Jet A and Jet A-1 which are produced to a standardized international specification. The picture changes, however, under the less stringent SDS, with US majors benefitting from the high degree of price sensitivity for shale assets, according to Carbon Tracker. How do we assess Platts European fuel oil? A new survey by Ernst & Young found a major digital skills gap among the oil and gas workforce, and the pandemic is increasing the urgency to close it. We’ll bring together an established community of petroleum players to network and discuss how the energy sector will reignite operations, reboot business models, and eventually reemerge post-pandemic. The Fuel Oil 1% FOB NWE Cargoes (Platts) Average Price Options are premium-paid-upfront options. Making sense of what is moving the oil markets and why is vital for successful trading decisions. Access latest metal news and analysis, conferences and events. The fuel requires to be preheated before it can be used. 9:20 am Platts AGS and a better definition of Midland WTI quality — Understand the methodology and relevance of the new Gulf Coast price benchmark — Platts implements tighter specifications on all its Midland WTI assessments Matt Eversman, Associate Director, Crude Oil, Fuel Oil, Bunker Markets, S&P Global Platts Platts Marine Fuel 0.5% assessment methodology underpinned by robust liquidity in the Market on Close assessment process; Platts Marine Fuel 0.5% assessment steadily gaining traction as the regional low sulfur benchmark ; Rajesh Nair, Managing Editor, Asia & Middle East Residual oil markets, S&P Global Platts. RATIONALE FOR POSSIBLE INCLUSION: Since US crude exports restarted in 2015, WTI Midland has become a mainstay for European crude imports and a core part of the North Sea crude oil market. Enter your Email ID below and we will send you a link to reset your password. Investors have been burned by low returns and are not likely come back in force, according to Waterous. Fuel oil … US crude output fell this year in response to low demand stemming from the coronavirus pandemic. — Connect—Use 1:1 messaging to introduce yourself. Platts also reflects bids, offers and trades for cargoes of these grades on a CIF-delivered basis 12 days forward to one month ahead, and adjusts these values for freight to arrive at comparable FOB values. All market data contained within the CME Group website should be considered as a reference only and should not be used as validation against, nor as a complement to, real-time market data feeds. The total, however, pales in comparison to the $166 billion they are forecast to spend on greenfield oil and gas projects during the same period. You’ll receive access to our online event tool in advance of the conference. Gulf Coast No. By contrast, a higher exposure to short-cycle US shale plays sees Exxon and Chevron rank much better overall in the SDS outlook. Use it to: — Build your network—See who else is registered, help people find you, and exchange contact information digitally. The benchmark, published under the data code PUAFZ00, is often referred to by many names, including No. D6 is its name in the USA. The Europe and Africa Refined Oil Products Guide contains the primary specifications and methodologies for Platts European Products assessments. Platts Market-on-Close (MOC) is the process Platts editors use to assess prices for crude oil, petroleum products and related swaps. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42 °C (108 °F) and oils burned in cotton or wool-wick burners. La formation des prix des combustibles liquides fait appel, on le sait, à des références internationales spécifiques pour chaque produit ( Platts ) et non aux prix internationaux du pétrole brut de Londres (le Brent). — India demand: Is India the long-term growth market for oil demand? — U.S. upstream: Driving cost efficiencies, finding access to capital The agreement was largely successful in fostering a recovery in oil prices throughout the summer and fall, but oil demand outlooks have again come under pressure. These include ExxonMobil’s $10 billion Golden Pass US LNG project, Chevron’s $6.3 billion deepwater Anchor US oil project, and Shell’s $3.9 billion deepwater Mero Sepetiba project in Brazil. Dated Brent could be opening its doors to US crude as it looks to evolve as a global oil benchmark. If you are a premium subscriber, we are unable to send you a link to reset password for security reasons. The addition of the grade to the basket would provide additional volume and would further ensure the continued robustness of the Dated Brent FOB benchmark. Platts invites comments, questions and other feedback on the below proposals by Feb. 5, 2021. Fuel Prices Online, founded in 1994, delivers accurate and timely oil price information to the downstream oil markets: oil companies, suppliers, distributors, marketers, terminal operators, forecourt retailers, transport, agriculture and Government. Platts invites feedback on whether it should only reflect bids and offers for 600,000 barrel cargoes or to also include larger cargoes. The cargo markets followed shortly after in 1980.Over the years, the high and low suflur specifications Platts has reflected have changed a great deal. US crude output fell this year in response to low demand stemming from the coronavirus pandemic. TIMING OF IMPLEMENTATION: Platts is inviting feedback on a potential implementation for March 2022 cargoes. Access latest gas news and analysis, conferences and events. But that is down roughly 2 million b/d on the year, and many analysts expect little change […]. The agreement was largely successful in fostering a recovery in oil prices throughout the summer and fall, but oil demand outlooks […]. Liquid fuel pricing is linked to specific international references for each product (Platts) rather than the international crude oil prices in London (Brent crude). A monthly cash settled future based on the difference between the Platts daily assessment price for New York 1% Fuel Oil and the Platts daily assessment price for US Gulf Coast High Sulphur Fuel Oil. S&P Global Platts is exclusively publishing weekly oil inventory data for the Fujairah Oil Industry Zone, including an aggregate breakdown of heavy distillates and residues, middle distillates, and light distillates. QUALITY PREMIUM: Platts invites feedback as to whether and when to apply a quality premium to WTI Midland. 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