SUBSCRIBER NOTE: Platts changes FOB NWE WAF-grade gasoline spec

S&P Global Platts has changed the specification reflected in its West Africa Gasoline FOB Northwest Europe assessment (Code: AAKUV00) to 500 ppm sulfur maximum from the current 1,000 ppm, with effect from January 2, 2020.

The change also affects the assessment of West Africa Gasoline CIF West Africa (Code: AGNWC00), which is derived as a freight net-forward to West Africa Gasoline FOB Northwest Europe.

This follows a period of industry feedback. The decision note announcing this change was published December 2: www.spglobal.com/platts/en/our-methodology/subscriber-notes/120219-platts-will-change-fob-nwe-waf-grade-gasoline-spec

The decision follows a change in demand in West Africa. Nigeria, the largest importer of gasoline in the region, recently updated the gasoline specification imported through its Direct Sale/Direct Purchase (DS/DP) mechanism for 2019 and 2020 to a maximum of 500 ppm sulfur from 1,000 ppm. Nigeria typically imports around 1 million mt per month of gasoline and Europe is the largest supply point.

Already prior to the change of the specification defined in the DS/DP, grades typically exported from Northwest Europe to Nigeria had been reported to meet sulfur limits of 500 ppm.

Please send any comments and queries to europe_products@spglobal.comand pricegroup@spglobal.com

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