SUBSCRIBER NOTE: Platts proposes to update volume reflected in Latin America crudes

Platts proposes to update its Latin American crude oil methodology and specifications to align with typical volumes of crude cargoes considered in the assessment process.

Platts currently reflects volumes of 350,000 barrels for all its Latin American crude oil assessments, with the exception of Castilla Blend, which reflects 500,000 barrels and Magdalena, which reflects 300,000 barrels. Through this revised methodology, Platts assessments would reflect the updated typical volumes (in barrels) as follows:

- Escalante (PCAGC00) - 1 million - Roncador (AAQTL00) - 750,000 - Loreto (PCAGH00) - 400,000 - Oriente (PCADE00) - 360,000 - Napo (AAMCA00) - 720,000 - Marlim (AAITF00) - 750,000 - Castilla Blend (AAVEQ00) - 1 million - Vasconia (PCAGI00) - 500,000

Platts will continue to consider other traded volume sizes reported in the market, but such trades may be normalized to reflect the updated volumes.

The proposed volumetric changes are deduced from consultation with market participants and a review of market-trading practices.

Platts proposes to implement these changes April 1, 2016. Please send comments and feedback by February 29 to americas_crude@platts.com and pricegroup@platts.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.