Statoil snatches Shell's status as decider of the oil price

Platts will now include Norway's Troll in the dated Brent reference oil, prompting the equilibrium to shift and thus triggering a new dominating player behind the pricing of the North Sea oil.

Photo: Photo Øyvind Hagen - Statoil

Beginning next year, production from the Norwegian Troll field will be included in S&P Global Platts' calculation of the price for European reference oil, Brent, writes the financial analyst in a statement.

"Dated Brent is a robust and well-supplied crude benchmark, but it is important to prepare for the future, in particular, the expected decline in North Sea production and the changing quality of the whole crude slate," says Global Editorial Director, Oil and Shipping Price Group, S&P Global Platts, Jonty Rushforth.

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