Platts, a leading global provider of energy and commodities information has proposed the launch of a new benchmark, Americas Sour Marker (ASM) for sour crude oil in the U.S. Gulf of Mexico. Sour crude oil contains high-sulfur as opposed to sweet crude oil which has a lesser sulphur content. Sour crude accounts for close to two-thirds of the oil that goes into U.S. refineries for the production of various oil products.
- This is to provide an alternate benchmark to West Texas Intermediate (WTI) which gives the value for Sweet crude oil.
- The ASM assessment would reflect the four U.S. Gulf Coast pipeline crudes: Mars, Poseidon, Southern Green Canyon, and Thunder Horse.
- Platts is proposing to launch the new assessment on March 16, 2009.
- ASM would follow the Platts Brent-Forties-Oseberg-Ekofisk (BFOE) assessment model used in the North Sea.
- It will be published with Platts' existing U.S. sweet and sour crude assessments and will not replace any existing U.S. crude assessments.
- This is to provide an alternate benchmark to West Texas Intermediate (WTI) which gives the value for Sweet crude oil.
- The ASM assessment would reflect the four U.S. Gulf Coast pipeline crudes: Mars, Poseidon, Southern Green Canyon, and Thunder Horse.
- Platts is proposing to launch the new assessment on March 16, 2009.
- ASM would follow the Platts Brent-Forties-Oseberg-Ekofisk (BFOE) assessment model used in the North Sea.
- It will be published with Platts' existing U.S. sweet and sour crude assessments and will not replace any existing U.S. crude assessments.