Argus Launches Mideast Gulf and Indian Ocean Oil Products Pricing Service

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Mar 15, 2011, 03:00 ET

SINGAPORE, March 15, 2011 /PRNewswire/ -- International energy pricing agency Argus has launched the Argus Mideast Gulf and Indian Ocean Products (AMGIO) report, a service that provides a range of price assessments of refined oil products in the Mideast Gulf and Indian Ocean. Traditionally, these markets have been assessed as differentials to product prices in the Singapore market.

"As Mideast Gulf states and India emerge as both suppliers of oil products as well as key markets for imported products, there is an acknowledged need for improved refined products pricing. The existing pricing models based on netbacks from Singapore do not reflect the dynamics of the market in this region and the dramatic impact on the global market," Argus chairman and chief executive Adrian Binks says. "We are pleased to be able to provide the market with this new service that reflects the changes in this region and brings much needed transparency to the market."

The AMGIO report will provide weekly price assessments and in-depth analysis of naphtha, gasoline and gasoil markets in the Mideast Gulf and Indian Ocean. Argus has been assessing global oil product markets for more than 40 years. The Argus Euro-Bob assessment is the industry standard benchmark for European physical gasoline transactions and swaps. Argus Asia-Pacific products assessments are widely used as references in the pricing of products exports from the Mideast Gulf and Asia-Pacific.

The AMGIO report is part of Argus' continuing commitment to the development of the Middle East as an important trading hub for refined products. Argus hosted the first Argus Mideast Gulf and Indian Ocean Oil Conference in Dubai on 1-2 March 2011. This highly anticipated event focused on the evolving trading patterns in the Mideast Gulf and the growing links between the region and the markets of the Indian Ocean. More information about the conference can be found at www.argusmedia.com/AMGIO2011.

"The report and conference reflect Argus' dedication to provide the highest quality pricing tools for the Mideast Gulf and Indian Ocean petroleum products market," Binks says.

For further information contact Zhilin Yuan in Singapore at +65 6496 9966, Barbara Kalu in Dubai at +971 4434 5112 or Seana Lanigan in London at +44 20 7780 4200 or email [email protected]

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