Saturday, April 17, 2021

Kuwait’s KPC raises February crude OSPs to Asia, lowers prices to US, Europe

Kuwait Petroleum Corp. raised its February official selling prices for crude bound for Asia, while it lowered prices of its crude heading to the United States and Europe, according to a notice seen by S&P Global Platts Jan. 11.

KPC raised the OSP differential of its Asia-bound barrels of Kuwait Export Crude by 40 cent/b to plus 65 cents/b against the average of Oman and Dubai crude assessments for February.

The differential for its Kuwait Super Light crude to Asia also increased, from plus 10 cents/b in January, to plus 60 cents/b for February.

KPC also increased its OSP differential for its Asia-bound Khafji crude by 20 cents/b to a 30 cents/b premium to Oman/Dubai.

Meanwhile, KPC decreased the February price of KEC delivered to USGC by 5 cents/b to a $1.35/b premium against the Argus Sour Crude Index, or ASCI. The FOB KEC to the US also was lowered by 5 cents/b to ASCI plus 5 cents/b.

For KEC barrels bound for Northwest Europe in February, KPC lowered values by 80 cents/b to Dated Brent minus $2.15/b. The OSP differential for February loadings headed to the Mediterranean was also decreased by 80 cents/b to minus $1.20/b against the same benchmark. The OSP differential for FOB Sidi Keri decreased $1/b to Dated Brent minus 70 cents/b.
Source: Platts

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