MOPAGMean of Platts Arab Gulf
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"If private refiners step up supply of products to Indian markets, then the Mopag (Mean of Platts Arab Gulf) price will get support," said Praveen Kumar, a senior consultant and the head of the South Asia oil and gas team at Facts Global energy.
Under the new pricing mechanism, refined oil prices are reviewed on a fortnightly basis and prices are adjusted according to the international price (mopag) movements.
In 2011, the last time ADNOC exported gasoil it supplied 600,000 mt of 0.5% sulfur gasoil during January-December at a premium of 65 cents/b to MOPAG Gasoil assessments.