30 June 2021

Paraguayan state-owned oil company Petropar has switched its data provider for oil products to leading energy and commodity price and news reporting agency Argus. A key importer of fuels in Latin America, Petropar owns Paraguay’s fastest growing chain of service stations and supplies them mostly with imported products.

Petropar will use Argus price assessments in contracts to import oil products including gasoline, diesel, naphtha and LPG.

Argus price assessments are widely used in physical and derivative contracts around the world. Our transparent and market-appropriate methodology has been increasingly adopted throughout Latin America. Other countries in the region that use Argus prices in contracts include Brazil, Bolivia, Argentina, Colombia, Mexico, Ecuador, Peru, Uruguay and Chile.

Argus Media chairman and chief executive Adrian Binks said: “We are delighted that Petropar has chosen to switch its import prices for petroleum products to Argus. This is testament to the reliability, quality and range of prices we report on.”

Petropar’s international trade manager Rose Marie Medina said: “As a state-owned company, Petropar plays a double role in Paraguay’s market, offering the best value to our customers while being recognized as a trusted source of representative real market prices. We have chosen Argus to index our fuel imports because its price assessments are a true reflection of the market. Argus has a transparent methodology, it talks with a wide variety of market participants and we are confident in the accuracy of its prices and its deep industry knowledge and experience”.

About Argus Media

Argus is an independent media organisation with almost 1,100 staff. It is headquartered in London and has 26 offices in the world’s principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets and offers bespoke consulting services and industry-leading conferences.

Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.

Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders, global growth equity firm General Atlantic and Hg, the specialist software and technology services investor.

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