The ARGUS East Siberia-Pacific Ocean (ESPO) Blend price assessment
The Argus ESPO Blend price assessment is the most transparent price for crude traded in Asia-Pacific, pricing 600,000 b/d of light crude shipped through the East Siberia-Pacific Ocean (ESPO) Pipeline and sold to the east Asian and US west coast markets.
Advantages of the ARGUS ESPO Blend price assessment
The Argus ESPO Blend price assessment is calculated using a market-appropriate methodology that includes cross-checking market information with producers, consumers and traders. The Argus ESPO Blend price assessment reflects market prices for crude sold by Russian producers to Asia-Pacific refiners and international trading firms on a fob Kozmino basis.
Users of the ARGUS ESPO Blend price assessment
Argus price assessments are used to establish long-term contract prices for 300,000 b/d of crude produced by Russian state-controlled Rosneft and delivered to China’s state-owned CNPC through the pipeline spur linking the ESPO system with refineries in northeast China. The Argus ESPO Blend price assessment is published daily in the Argus Crude report.