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EPIC Crude terminal added to crude oil pricing benchmark

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Tanks and Terminals,

EPIC Crude Holdings, LP (EPIC Crude) has announced that Platts will include the company’s crude marine terminal in Corpus Christi, Texas, US, as a pre-approved terminal for WTI Midland crude oil in its Platts Dated Brent and Cash BFOE* Market-on-Close (Dated Brent) price assessment, beginning with June 2023 deliveries.

Dated Brent is the world’s leading crude benchmark and a critical component of the Brent Complex, which includes the trading of physically delivered oil, as well as financially settled derivatives. WTI Midland will be the first non-North Sea grade of oil to be included in Dated Brent and will only reflect WTI Midland cargoes loaded from pre-approved terminals.

“EPIC is honoured to be accepted by Platts to deliver WTI Midland crude oil into the Brent Complex," said Brian Freed, Chief Executive Officer of EPIC. "This addition recognizes the strict export quality grade crude oil EPIC delivers, and further highlights the strategic importance of Corpus Christi in meeting the global energy demands.”

EPIC Crude delivers up to 600 000 bpd of crude oil from its approximately 3.5 million bbl Robstown terminal to export terminals and refineries in Corpus Christi and Ingleside, including EPIC’s crude marine terminal which is capable of loading Aframax-sized tankers.

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