Belarus’ BNK switches to Argus’ gasoline benchmark
London, 30 July 2012
Belarusian oil product exporter BNK has started offering export grades of gasoline at differentials to Eurobob oxy price assessments published by global energy and commodity price reporting agency Argus. BNK previously used Platts assessments.
“Most transactions in the European physical gasoline market, and the fast growing gasoline swaps market, are linked to Argus. So we are happy to see the key Belarusian products exporter start using an established benchmark to help their customers manage their risk,” Argus Media chairman and chief executive Adrian Binks said.
BNK is the largest oil products exporter in Belarus. The firm exported 12.7mn t of products last year, 16 pc of which was gasoline. BNK offers oil products under spot and term contracts. BNK’s UK subsidiary BNK UK sells oil products on free on board (fob) terms, while another of the company’s affiliates, BNK Ukraine, supplies products to Ukraine, Moldova and Romania.
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Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, petrochemical, fertilizer and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning.
Argus is headquartered in London and has more than 400 staff in offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels, Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.