Platts updates European clean refined products netback and net-forward assessment formulae

The following changes will be made effective Jan. 4 across the following S&P Global Platts clean refined products price assessments for the Europe and Africa region to reflect updated Worldscale freight rates for 2022.

Diesel

The flat rate used to calculate the netback formula for ULSD 10 ppmS FOB Mediterranean cargoes (AAWYY00) becomes $7.72/mt.

The flat rate used to calculate the netback formula for ULSD 10 ppmS FOB NWE cargoes (AAVBF00) becomes $7.38/mt.

The flat rate used to calculate the netback formula for ULSD 10 ppmS FOB NWE basis Le Havre cargoes (AAWZD00) becomes $7.72/mt.

The flat rate used to calculate the net-forward formula for Diesel 10ppm UK Cargoes CIF NWE - Original (French) Spec (AUKDA00) becomes $2.42/mt.

The flat rate used to calculate the net-forward formula for ULSD 10 ppmS CIF NWE basis Le Havre cargoes (AAWZC00) becomes $1.36/mt.

Gasoil

The flat rate used to calculate the netback formula for FOB Mediterranean 0.1% gasoil cargoes (AAVJI00) will be $8.01/mt.

The flat rate used to calculate the netback formula for FOB Northwest Europe 0.1% gasoil cargoes (AAYWR00) will be $8.39/mt.

Gasoline

The flat rate used to calculate the net-forward formula for the CIF Mediterranean premium gasoline 10 ppm cargo (AAWZB00) will be $6.67/mt.

The flat rate used to calculate the net-forward formula for the CIF West Africa cargo (AGNWC00) assessment will be $16.35/mt.

Naphtha

The flat rate used to calculate the netback formula for FOB Mediterranean naphtha cargoes (PAAAI00) will become the 2022 Worldscale rate for Alexandria to Rotterdam, inclusive of Rotterdam port fees.

The flat rate used to calculate the net-forward formula for CIF Mediterranean naphtha cargoes (PAAAH00) becomes the 2022 Worldscale rate for Alexandria to Lavera.

Jet Fuel

The flat rate used to calculate the netback formula for FOB Mediterranean jet cargoes (AAIDL00) becomes the 2022 Worldscale rate from Augusta to Rotterdam, inclusive of Rotterdam port fees.

Please send any questions or comments to europe_products@spglobal.com with a cc to pricegroup@spglobal.com.

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