Qatar to Change Crude Oil Pricing from March-Loading Cargoes
The producer will announce in February the official selling prices (OSPs) for Qatar Land and Qatar Marine crude on a forward pricing basis, the sources said.
SEATTLE (Oil Monster): Qatar Petroleum (QP) plans to change the pricing of its crude for cargoes loading in March to allow buyers to better compare the value of its oil with those of other Middle East producers, two sources with knowledge of the matter said on Thursday.
The producer will announce in February the official selling prices (OSPs) for Qatar Land and Qatar Marine crude on a forward pricing basis, the sources said.
At the same time, QP will also release the OSPs for cargoes loading in January and February, they said.
QP currently prices the two grades on a retroactive basis but will move this to forward pricing, a more popular approach used by other Middle East crude exporters such as Saudi Arabia that better matches the trading cycle of crude.
The company could not be immediately reached for comment.
Courtesy: www.reuters.com
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