Subscriber note: Platts to update Med crude sweet/sour diff

Effective April 2, 2012, Platts proposes to update the formula and inputs used in the calculation of its Mediterranean crude oil sweet/sour differential. Platts proposes to use the following formula: the mean of CPC Blend FOB CPC Terminal vs Med Dtd strip, BTC FOB Ceyhan vs BTC Dtd strip, Saharan Blend FOB Algeria vs Med Dtd strip and Es Sider FOB Es Sider vs Med Dtd strip minus Urals FOB Novorossiisk vs Med Dtd strip. Currently, Platts calculates this difference as the mean of CPC CIF Augusta vs Med Dtd strip minus freight costs, Azeri Light CIF Augusta vs BTC Dtd strip minus freight costs and Saharan Blend FOB Algeria vs Med Dtd strip and deduct Urals FOB Novorossiisk vs Med Dtd strip. Please send comments and questions by March 1, 2012, to europe_crude@platts.com with a cc to pricegroup@platts.com