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The formula price of Brent will review before the end of the year

S & P Global Platts for the first time in a decade will extend the list of oil grades used to calculate the price of Brent. The four existing - Brent, Forties, Oseberg and Ekofisk (BFOE) - be added to the oil fields Troll, which is a Norwegian company Statoil operator. Reported OilNews.


Oil supplies from Troll will be included in Brent data from January 1, 2018 for contracts Cash BFOE assessment will be published on September 1, 2017, for Dated Brent - 1 December.


With the reduction of production at the oilfield Brent in 2002 were added to the brand Forties and Oseberg, in 2007 - Ekofisk. Currently, production in the North Sea has stabilized, but later the agency expects to reduce its volume in these four fields.


For more than a year, Platts considered for the protection of Brent as a benchmark measure of the oil market from the effects of the reduction in the North Sea production. In order to increase the liquidity of Brent studied different options for adding new varieties, including the Russian Urals.


for Brent contracts are used by traders and oil producers as a token two-thirds of the cost of the physical oil traded in the world markets. In addition, they are linked futures, options and other derivatives on the billions of dollars.


Earlier, the company Royal Dutch Sheell announced a hearing on the decommissioning of Brent field, which gave the name of one of the world's oil standards. Field Conservation is preparing for more than 10 years due to reduced production from the wells located here. According to analysts, this could lead to the strengthening of the position of local benchmarkov WTI, Dubai, Urals.


We note one interesting fact: in the Troll field installed a giant drilling platform, at one time considered to be the largest in the world. In addition, it is the highest in the history of mankind structure, which has been moved relative to its starting position - being towed at a distance of over 200 km.