BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR PRIVACY & COOKIE NOTICE
X
Skip Navigation LinksHome|News & Analysis|News Features|News Feature Detail

Print



Latin America's changing crude


A Platts.com News Feature


Colombia's Vasconia hits more-than-five-year low on weaker benchmarks


By Richard Capuchino


December 01, 2014 - Colombia's mid-grade crude, Vasconia, was assessed December 1 at a more-than-five-year low on much weaker global benchmarks Brent and WTI.


The 24 API, 0.9% sulfur crude was assessed Monday at $65.745/barrel or the Latin ICE Brent strip minus $7.65/b. The last time the South American crude was assessed at these levels was in late September 2009, according to Platts price history.


Platts assessed Vasconia at $63.22/b September 29, 2009.


Analysis continues below...


Request a free trial of: Latin American Wire Latin American Wire
Latin American Wire

Each business day, Latin American Wire delivers comprehensive coverage of the Latin Crude and Caribbean markets with news, in-depth analyses, and commentary on the Latin Crude and Products Markets. It includes news on exploration, production, and financial reports, plus commentary and analysis of deals, bids, and offers.

Request a trial to Latin American Wire Request More Information

Global benchmarks WTI and Brent have lost more than $38.00/b and $44.00/b, respectively, since mid-June, according to Platts data.


The differential for Vasconia in 2014 has averaged at the Latin ICE strip minus $6.5374/b.


Vasconia is exported from the port of Covenas, Colombia, in Aframax-sized (500,000-barrel) cargoes. Typical buyers include US Gulf Coast refiners as a Mars alternative and European refiners as a Urals alternative. South American and Asian refiners also buy Vasconia when they seek a mid-grade crude.


Next story: Mexico's Maya crude price at levels not seen since May 2010








Copyright © 2017 S&P Global Platts, a division of S&P Global. All rights reserved.