Argus Launches Global Base Oils Report

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Jan 22, 2010, 05:06 ET

SINGAPORE, Jan. 22 /PRNewswire/ -- International energy pricing agency Argus today launched Argus Base Oils -- a new global report for the international base oils market.

Argus Base Oils is the first ever global pricing report for the base oils market and is the first to contain indications of forward base oil prices. The report includes weekly physical price assessments for all of the major centres of supply and demand as well as daily forward price updates.

Changing patterns of supply and demand and extreme price volatility in recent years have changed the nature of the base oils market, which has become increasingly globalised and sophisticated.

"The international base oils market is going through a period of exciting change. We are pleased to be able to provide the market with innovative pricing tools that will give buyers and sellers new options for contract pricing and risk management," Argus chairman and chief executive Adrian Binks says.

Argus Base Oils draws on Argus' 40 years of experience covering the crude oil and refined products markets. Argus' in-house expertise in refinery economics allows Argus Base Oils to provide comprehensive information about the feedstock fundamentals that influence base oil prices.

"With the launch of Argus Base Oils, Argus now covers the entire suite of refined products enabling customers to obtain all their pricing and information needs from a single provider," Binks says.

Argus' market assessments are heavily used to price contracts throughout the international crude oil, petroleum products and other energy markets. Staff at Argus' offices in Singapore, Beijing, London, Houston, Moscow and Dubai will contribute to Argus Base Oils.

About Argus Media

Argus is a leading provider of price assessments, business intelligence and market data on the global crude and products, natural gas, coal, electricity, emissions and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago 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.

For further information contact Zhilin Yuan in Singapore at +65 6496 9966, Seana Lanigan in London at +44 20 7780 4200, Tammy Tiedt in Houston at +1 713 968 0000, or email [email protected].

SOURCE Argus Media