Platts Prices- Know how it works #NWE #platts #discounts #oilprice #Brent #WTI #oilandgas #petroleum #trading #export #import #BLCO #crudeoil #aviationfuel #fuel #diesel #kerosene #petcoke #gasoline #LNG #LPG #bitumen #D2 #D6 #Mazut #refinery #pipelines

Platts Prices- Know how it works #NWE #platts #discounts #oilprice #Brent #WTI #oilandgas #petroleum #trading #export #import #BLCO #crudeoil #aviationfuel #fuel #diesel #kerosene #petcoke #gasoline #LNG #LPG #bitumen #D2 #D6 #Mazut #refinery #pipelines: There are two ways to price products and both mechanisms has its positive and negative sides: Fixed price offerings in US$/MT or US$/bbl which is usually offered for the first 12 months contract period and subject to review on yearly basis Formula based pricing linked to Platt’s prices around loading dates LESS an agreed discount Offers usually indicate a gross discount and a net discount to Buyer from Seller. The difference between the two is commission to be shared 50/50 between the brokers (Buyer’s side and Seller’s side). Note: the most important element in the transaction are the procedures and this is where 99.9% of all deals fail to materialize. A careful review of procedures will reveal areas that are usually not workable for either side. If this cannot be overcome then all negotiations fail.

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