Subscriber note: Platts to decrease Forties de-escalator February 1

Effective February 1, 2013, the sulfur de-escalator to be applied in Forties cargoes and related instruments in the Platts North Sea assessment process will be $0.30/barrel per 0.1% weight of sulfur over the 0.6% wt standard, $0.05/b down from the current de-escalator value of $0.35/b, which has been in place since October 1, 2012. The de-escalator should apply to cargoes loading from February 1, 2013. Platts has revised the de-escalator in light of the persistently narrowed differential between low- and high-sulfur products. A rationale for this decision shall shortly be available on Platts website, www.platts.com. Platts guidelines for its sulfur de-escalator use three significant figures for determination of sulfur-related payment. The test reflecting this figure should be the ASTM-D2622. Forties cargoes and all related instruments, including BFOE cash forwards, bid or offered through the Platts system must adhere to this standard. In addition, Platts will publish the sulfur de-escalator, representing the dollar value per 0.1% weight of sulfur, in its crude oil publications. Please send comments to europe_crude@platts.comandpricegroup@platts.com.