BPAP
Definition
A Major Oil and Gas Company Agreed Price
bpap means a major oil and gas company Agreed Price. This acronym comes from Integrated Supply and Trading. It is a LPG market price per metric tonne calculated by a major oil and gas company based on a dataset of North…
This acronym comes from Integrated Supply and Trading. It is a LPG market price per metric tonne calculated by a major oil and gas company based on a dataset of North Sea LPG commercial trades during a particular month. The proposed number is then agreed / ratified by a number of other oil majors. The BPAP price is then used in contracts for sale e.g. a company may agree to buy another producers volumes at say Sullom Voe Terminal for "BPAP plus $12 per metric tonne"
✓ Verified term