
Argus makes no warranties, express or implied, as to the accuracy, adequacy, timeliness, or completeness of its data or the Australian Institute of Petroleum’s calculations or opinions, or their fitness for any particular purpose. The Australian Institute of Petroleum obtains confidential proprietary data from the Argus Media group under license, from which data the Australian Institute of Petroleum conducts and publishes its own calculations and opinions. For information on crude oil pricing in Asia see International Crude Oil Pricing and the 2011 ACCC Formal Price Monitoring Report (page 60) at. Argus assesses the price of crude from Australian fields Vincent, Pyrenees, Cossack and Van Gogh as well as condensate streams North West Shelf and Ichthys at premiums or discounts to North Sea Dated. These “Dated” physical benchmarks, and the Brent futures contract, listed on the Intercontinental Exchange (ICE), are used as the basis for the pricing of crude in many parts of the world, including Europe, Africa, Latin America and the Asia-Pacific region. The physical Brent market, which generates the Argus North Sea Dated and Platts Dated Brent crude oil benchmarks, is based on the lowest priced of a basket of similar crudes produced in UK and Norwegian waters: Brent, Forties, Oseberg, Ekofisk and Troll. From 1 January 2009, the diesel price marker is 10ppm sulfur diesel, consistent with changes to Australian fuel standardsīrent is both the name of a specific UK blend of crude oil and a generic term for light (low density) sweet (low sulphur) crude from the North Sea. The Petrol, Diesel and Crude Oil prices are provided by Argus and represent the end of day assessment for the prices of these commodities. Consequently, appropriate care should be exercised when using this data to infer financial performance of individual companies. By utilising the Argus crude oil and product quotes, AIP does not intend to reflect the actual purchase prices of product or crude oil by individual AIP member companies. The Argus Tapis and North Sea Dated (Brent) quotes were chosen as representative regional crude oil price markers which are quoted daily.

As of January 2009: The Venezuelan crude "BCF-17" was replaced by the crude "Merey".

As of January 2009: The basket price excludes the Indonesian crude "Minas".As of 19 October 2007: The basket price includes the Ecuadorean crude "Oriente".As of January 2007: The basket price includes the Angolan crude "Girassol".As of January 2006: The Weekly, Monthly, Quarterly & Yearly averages are based on daily quotations.Introduced on 16 June 2005, is currently made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
