Argus Launches Daily Coverage of Russian ESPO Crude Market

November 24, 2009

MOSCOW, Nov. 24 /PRNewswire/ — Argus, the international energy price reporting agency, has begun regular coverage of the new Russian East Siberia-Pacific Ocean (ESPO) Blend crude oil. Reliable information on prices, loadings, shippers, pipeline tariffs and market development will be available to subscribers of the Argus Crude daily market report.

The completion of the ESPO pipeline will enable exports of Russian crude from a new oil terminal at Kozmino in Russia’s far east. Kozmino is close to the consuming centres of China, South Korea and Japan, and Russian crude is likely to be prized for its quality and proximity to these important markets. Argus Media’s Chairman and Chief Executive, Adrian Binks commented, “if Russian exports are sold on a spot basis, a new benchmark could emerge, producing price transparency for Russia and huge implications for the global crude market.”

An Argus briefing document on ESPO may be found here.

For more information contact: Mikhail Perfilov in Moscow on +7 495 9337571, ext. 144 Mikhail.Perfilov@argusmedia.com or Seana Lanigan in London on +44 20 7780 4200, seana.lanigan@argusmedia.com

About Argus

Argus Media is a leading provider of price assessments, business intelligence and market data on the global emissions, coal, electricity, oil, gas and transportation industries. It is headquartered in London, and has offices in Houston, New York, Washington DC, Dubai, Singapore, Tokyo, Beijing, Moscow, Astana, Kiev and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Learn more at www.argusmedia.com

SOURCE Argus Media

Source: newswire

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