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27 February 2012
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Volume 55, Issue 9 - ENERGY FUNDAMENTALS |
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Crude Oil Formulas/Posted Prices ($/B)
Abu Dhabi
($/B)
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2012
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2011
|
|
|
Jan
|
Dec
|
Nov
|
Oct
|
Sep
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Aug
|
Jul
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Jun
|
May
|
Apr
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Mar
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Feb
|
Jan
|
Murban (39°)
|
114.20
|
111.80
|
114.35
|
108.95
|
110.90
|
109.05
|
113.95
|
112.15
|
113.60
|
120.70
|
112.55
|
103.60
|
95.55
|
Lower Zakum (40°)
|
113.85
|
111.45
|
114.00
|
108.65
|
110.60
|
108.75
|
113.65
|
111.95
|
113.60
|
120.70
|
112.55
|
103.60
|
95.60
|
Umm Shaif (37°)
|
113.40
|
111.05
|
113.60
|
108.25
|
110.15
|
108.25
|
113.15
|
111.55
|
113.10
|
120.20
|
112.05
|
103.15
|
95.15
|
Upper Zakum (34°)
|
111.60
|
108.85
|
111.40
|
105.65
|
107.25
|
105.05
|
109.95
|
107.95
|
109.05
|
116.50
|
108.90
|
100.50
|
92.70
|
Iraq
(+/- Adjustment Factor; $/B)
|
|
2012
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2011
|
|
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Mar
|
Feb
|
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
|
Jun
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May
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Apr
|
Mar
|
Basrah Light Crude
|
|
|
|
|
|
|
|
|
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US
|
|
|
|
|
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|
|
|
|
|
|
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Basrah Light (ASCI*)
|
-2.00
|
-1.70
|
-1.50
|
-1.60
|
-1.60
|
-1.70
|
-1.85
|
-1.75
|
-2.00
|
-2.10
|
-1.95
|
-1.65
|
-1.35
|
Europe
|
|
|
|
|
|
|
|
|
|
|
|
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Basrah Light (Dated Brent)
|
-2.55
|
-4.35
|
-2.50
|
-3.15
|
-4.10
|
-3.00
|
-4.05
|
-4.55
|
-5.25
|
-7.05
|
-6.50
|
-4.60
|
-4.60
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Far East
|
|
|
|
|
|
|
|
|
|
|
|
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Basrah Light (Oman/Dubai)
|
+0.65
|
+1.10
|
+2.90
|
+1.80
|
+1.65
|
+0.05
|
-1.00
|
0.00
|
0.00
|
-0.05
|
-0.15
|
+0.30
|
-0.35
|
Kirkuk Crude ex-Ceyhan
|
|
|
|
|
|
|
|
|
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|
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US
|
|
|
|
|
|
|
|
|
|
|
|
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Kirkuk (ASCI*)
|
-0.25
|
+0.05
|
+0.15
|
+0.10
|
+0.10
|
+0.10
|
+0.20
|
0.00
|
0.00
|
+0.25
|
+0.40
|
+0.20
|
+0.40
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Europe
|
|
|
|
|
|
|
|
|
|
|
|
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Kirkuk (Dated Brent)
|
-1.25
|
-2.90
|
-0.70
|
-1.35
|
-1.95
|
-1.45
|
-2.75
|
-2.75
|
-3.55
|
-4.75
|
-4.00
|
-2.85
|
-3.25
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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 2012.
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| © Middle East Economic Survey (MEES) 2013. |
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