Platts, part of S&P Global Commodity Insights, proposes including Seaway Texas City Terminal as a loading terminal for WTI Midland crude oil into its Dated Brent and Cash BFOE Market on Close assessment process from June 2023.
Platts recent decision to include WTI Midland into the Brent complex, and clarification of the review process by which loading terminals are included in the assessment process, can be found here.
Upon successful review and meeting Platts criteria, sellers would be able to nominate WTI Midland meeting Platts specification loaded from Seaway Texas City Terminal for inclusion into the Dated Brent/Cash BFOE assessment process.
The terminal, located in Texas City, Texas, is wholly owned by Seaway Crude Holdings LLC, L.P., a joint venture between Enterprise Seaway L.P. and Enbridge Holdings (Seaway) L.L.C. The terminal has two docks which can fit up to a VLCC size vessel and 4 million barrels of storage capacity for crude oil storage.
Please send all feedback to PriceGroup@spglobal.com and Europe_Crude@spglobal.com by April 14, 2023. For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.