Argus Media launches Venezuelan crude price assessments
LONDON, Feb 10 ((Reuters)) - Commodity price reporting agency Argus Media has launched price assessments for Venezuelan crude grades delivered to the U.S. Gulf Coast, the company said at its oil market forum in London on Tuesday.
The launch of pricing assessments comes just over a month after the U.S. captured former Venezuelan President Nicolas Maduro and set about taking over the sanctioned South American nation's beleaguered oil industry to increase production and return exports to the mainstream market.
The firm will assess three grades of Venezuelan crude oil, Merey, Hamaca and Boscan, for delivery to the U.S. Gulf coast, which Argus said is now the most likely destination for Venezuelan cargoes.
"What people want to see is some kind of price reference," Gus Vasquez, editorial manager for crude oil, said at the forum, in reference to the recent rapid changes in the Venezuelan oil industry.
Reuters competes with Argus on the provision of news and data concerning commodity markets.
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