The marginal carbon intensity (CI) calculations for different oil fields will help producers, investors, shareholders and downstream purchasers better understand the emission attributes of the crude
S&P Global Platts, a leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, has announced that commencing October 1, it will launch the first-ever daily carbon offset premiums alongside monthly carbon intensity calculations for 14 major crude fields around the world. The marginal carbon intensity (CI) calculations for different oil fields will help producers, investors, shareholders and downstream purchasers better understand the emission attributes of the crude where over time the carbon intensity of the production process can become its attribute of the crude itself, like the density of the crude and how much sulfur is included.
Calculating the carbon intensity of different commodities has become one of the ways the market has started to measure greenhouse gas (GHG) emissions from specific types of production. Oil produced with a lower amount of GHG emissions has a lower carbon intensity than crudes produced with higher emissions. In turn, crudes that are produced with a higher volume of GHG emissions have a higher carbon intensity.
From October 1, Platts will begin publishing monthly assessments of crude oil field carbon intensity in kilograms of carbon dioxide equivalent per barrel of oil equivalent (kgCO2e/boe); monthly assessments of transportation carbon intensity along one relevant route per crude in kilograms of carbon dioxide equivalent per barrel (KgCO2e/b); and daily assessments in $/boe and $/b respectively using the daily Platts Carbon Removal Credit (CRC) voluntary carbon credit assessment.
Platts’ midstream carbon intensity calculation measures the carbon intensity for one transport route per crude from the storage terminal to the most likely refining hub.
