Platts clarifies origin expectations for FOB ARA 0.1% DMA MGO barges

Platts, part of S&P Global Commodity Insights, would like to clarify that the FOB ARA 0.1% DMA spec MGO Barge assessment (LGARD00) reflects material of non-Russian origin.

Platts would like to clarify that its assessments that exclude Russian-origin material reflect oil that is not wholly, or in part, produced, manufactured or processed in Russia, or exported from Russia.

For trades published in the Platts Market on Close process, a seller would be expected to meet a buyer's typical and reasonable requests for proof of origin, as detailed in a subscriber note published April 11: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/041122-s-p-global-clarifies-moc-performance-expectations-on-restricted-origin-trades-for-oil-products.

Platts understands that this typically includes a certificate of origin and a bill of lading in cargo markets. For trades in cargo and barge markets where Russian-origin material is not reflected, a request for a seller's warranty on origin should not be unreasonably rejected.

Please send additional feedback, questions or comments to europe_products@spglobal.com and pricegroup@spglobal.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.