Transport Support for Fields in Eastern Siberia as the Main Factor in the Launch of the Russian Urals Benchmark at the St. Petersburg International Commodity Exchange

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MAGAZINE  №6 (101) December 2020


CATEGORY Transportation in logistics



 According to the author, the relevance and novelty of the article lies in the fact that it shows the readers the importance of effective use of the Russian ESPO pipeline in the context of the changing global energy landscape and the increasing competition between the leading raw material countries for sales markets. In this article, the author pays special attention to the transport support of fields in Eastern Siberia as one of the main conditions for transparent pricing of Russian oil. In the structure of the fuel and energy complex, the topic of ensuring conditions for oil transportation through the ESPO pipeline is the most relevant, since the Midstream segment is a link between the Upstream (production) and Downstream (sales) segments. In order to create an independent pricing system for Russian oil, for this purpose, the St. Petersburg Commodity Exchange plans to launch the Russian ESPO benchmark (ESPO) in 2021 that will untie Russian oil from the Brent benchmark which is a price benchmark for more than 70% of all of oil produced in the world.

 Electronic version

 Keywords:  crude oil ESPO oil pricing benchmark Urals discount price indicators price standards Commodity Exchange brent price agencies

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