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19/26 December 2011
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Volume 54, Issue 51/52 - ENERGY FUNDAMENTALS |
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Crude Oil Formulas/Posted Prices ($/B)
Iran
(+ / - Adjustment Factor; $/B)
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2012
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2011
|
|
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Jan
|
Dec
|
Nov
|
Oct
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Sep
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Aug
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Jul
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Jun
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May
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Apr
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Mar
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Feb
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Jan
|
Asia (Oman/Dubai)
|
|
|
|
|
|
|
|
|
|
|
|
|
Iranian Light (34°)
|
+4.36
|
+2.74
|
+2.94
|
+1.89
|
+1.01
|
+1.61
|
+1.71
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+2.43
|
+1.93
|
+2.23
|
+1.52
|
+1.82
|
+1.82
|
Iranian Heavy (31°)
|
+2.74
|
+1.09
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+1.14
|
-0.31
|
-1.38
|
-0.38
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-0.68
|
-0.73
|
-0.98
|
-0.43
|
-1.05
|
-0.90
|
-0.50
|
Foroozan (31°)
|
+2.92
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+1.24
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+1.29
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-0.16
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-1.24
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-0.24
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-0.54
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-0.64
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-0.89
|
-0.34
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-0.97
|
-0.82
|
-0.42
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Soroosh (18.6°)*
|
-3.89
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-3.84
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-4.09
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-4.29
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-4.35
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-3.35
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-3.80
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-4.65
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-4.35
|
-4.00
|
-4.45
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-4.45
|
-4.10
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Norooz (20.6°)*
|
-3.89
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-3.84
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-4.09
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-4.29
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-4.35
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-3.35
|
-3.80
|
-4.65
|
-4.35
|
-4.00
|
-4.45
|
-4.45
|
-4.10
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NWE/S Africa (BWAVE)
|
|
|
|
|
|
|
|
|
|
|
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Iranian Light (34°)
|
-0.80
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-1.55
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-1.70
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-1.00
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-2.35
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-3.30
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-2.50
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-4.15
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-4.45
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-3.40
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-4.20
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-3.00
|
-2.20
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Iranian Heavy (31°)
|
-2.30
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-3.00
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-3.15
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-2.60
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-3.80
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-4.70
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-3.85
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-5.50
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-5.55
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-5.40
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-5.80
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-4.70
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-3.70
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Foroozan (31°)
|
-2.20
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-2.90
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-3.05
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-2.50
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-3.70
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-4.60
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-3.75
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-5.45
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-5.50
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-5.35
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-5.75
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-4.65
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-3.65
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Mediterranean (BWAVE)
|
|
|
|
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|
|
|
|
|
|
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Iranian Light (34°)
|
-2.00
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-2.35
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-2.50
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-2.10
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-4.40
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-4.65
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-4.70
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-5.80
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-5.80
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-4.75
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-5.80
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-3.80
|
-2.60
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Iranian Heavy (31°)
|
-3.85
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-4.05
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-4.20
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-4.20
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-6.45
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-6.70
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-7.60
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-9.85
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-9.75
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-8.75
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-8.35
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-6.15
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-4.65
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Foroozan (31°)
|
-3.75
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-3.95
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-4.10
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-4.10
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-6.35
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-6.60
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-7.50
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-9.80
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-9.70
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-8.70
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-8.30
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-6.10
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-4.60
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Soroosh (18.6°)*
|
-3.85
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-7.80
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-3.85
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-8.20
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-4.15
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-3.35
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-3.50
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-4.65
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-4.05
|
-4.05
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-4.10
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-4.60
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-4.10
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Norooz (20.6°)*
|
-3.85
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-7.80
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-3.85
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-8.20
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-4.15
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-3.35
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-3.50
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-4.65
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-4.05
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-4.00
|
-4.10
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-4.60
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-4.10
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Sidi Kerir (BWAVE)
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|
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Iranian Light (34°)
|
-0.05
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-0.35
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-0.50
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-0.10
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-2.30
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-2.60
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-2.70
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-3.95
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-4.05
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-3.10
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-4.20
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-2.35
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-0.95
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Iranian Heavy (31°)
|
-1.90
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-2.05
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-2.20
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-2.15
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-4.35
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-4.65
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-5.60
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-8.00
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-8.00
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-7.10
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-6.75
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-4.70
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-3.00
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Foroozan (31°)
|
-1.80
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-1.95
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-2.10
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-2.05
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-4.25
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-4.55
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-5.50
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-7.95
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-7.95
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-7.05
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-6.70
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-4.65
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-2.95
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* Iran’s Soroush and Norouz crudes are discounted against Iranian Heavy crude.
Yemen
(Dated Brent + / - Adjustment Factor; $/B)
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|
2012
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2011
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|
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Feb
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Jan
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Dec
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Nov
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Oct
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Sep
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Aug
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Jul
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Jun
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May
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Apr
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Mar
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Feb
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Marib Light (40°)
|
0.00
|
0.00
|
0.00
|
0.00
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0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
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0.00
|
0.00
|
0.00
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Masila Blend (30°)
|
+2.93
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+2.57
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+1.33
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+0.93
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-0.93
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-1.47
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-1.17
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-0.87
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-2.26
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-2.48
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-0.88
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-0.37
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-1.40
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Iraq
(+/- Adjustment Factor; $/B)
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|
2012
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2011
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Jan
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Dec
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Nov
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Oct
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Sep
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Aug
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Jul
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Jun
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May
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Apr
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Mar
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Feb
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Jan
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Basrah Light Crude
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US
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Basrah Light (ASCI*)
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-1.50
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-1.60
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-1.60
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-1.70
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-1.85
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-1.75
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-2.00
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-2.10
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-1.95
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-1.65
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-1.35
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-1.35
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-1.15
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Europe
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|
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Basrah Light (Dated Brent)
|
-2.50
|
-3.15
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-4.10
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-3.00
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-4.05
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-4.55
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-5.25
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-7.05
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-6.50
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-4.60
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-4.60
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-3.40
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-1.90
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Far East
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|
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Basrah Light (Oman/Dubai)
|
+2.90
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+1.80
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+1.65
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+0.05
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-1.00
|
0.00
|
0.00
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-0.05
|
-0.15
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+0.30
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-0.35
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-0.10
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+0.20
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Kirkuk Crude ex-Ceyhan
|
|
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US
|
|
|
|
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Kirkuk (ASCI*)
|
+0.15
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+0.10
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+0.10
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+0.10
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+0.20
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0.00
|
0.00
|
+0.25
|
+0.40
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+0.20
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+0.40
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+0.30
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+0.50
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Europe
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|
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Kirkuk (Dated Brent)
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-0.70
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-1.35
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-1.95
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-1.45
|
-2.75
|
-2.75
|
-3.55
|
-4.75
|
-4.00
|
-2.85
|
-3.25
|
-2.05
|
-0.85
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* Iraq’s State Oil Marketing Organization (SOMO) began as of 1 April 2010 pricing its crude oil destined to the US at differentials to the Argus Sour Crude Index (ASCI). Prior to that, crude exports to the US had been priced at Platts WTI 2nd
month for Basrah Light, and Platts WTI 1st
month for Kirkuk. © Copyright MEES 2011.
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| © Middle East Economic Survey (MEES) 2013. |
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