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Qatar Petroleum has announced that starting February 2020, pricing for the crude oil grades of Qatar Marine and Qatar Land, marketed and sold by Qatar Petroleum for Sale of Petroleum Products Company (QPSPP), will be changed from a retroactive pricing basis to a prospective pricing basis.
As a result, the new Qatar Marine and Qatar Land crude pricing methodology will be based on the averages of readily available and transparent regional crude oil pricing benchmarks.
The change to the pricing methodology will improve the overall competitiveness of Qatar Marine and Qatar Land, and allow existing and new customers to better align and compare the Qatari crude grades with other crude grades.
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