SUBSCRIBER NOTE: Platts to publish all BFOE crude cargo data ahead of MOC

Platts will begin publishing all crude cargo loading information for Brent, Oseberg, Ekofisk and Troll loading between 10 days and one month from the date of assessment, as well as all cargoes which have been deferred/advanced into or outside of this range as of March 1, 2018 for cargoes loading April 1, 2018.

This follows on from a proposal published January 4, 2018 and available here: https://www.platts.com/subscriber-notes-details/26864952.

Platts has been publishing this information for all Forties cargoes loading between 10 days and one month from the date of assessment since December 14, 2017, following an unexpected outage on the Forties Pipeline system. This note is available here: https://www.platts.com/subscriber-notes-details/26856696

Platts has received strong support for the transparency and greater clarity that this has brought to to the assessment process, and will thus expand it to include the other four crude grades in BFOE.

Platts will publish a daily updated version of all five BFOE loading schedules at 14:30 London time.

Platts expects all participants in the North Sea crude oil MOC, when requested by Platts, to provide full clarity on loading dates for all BFOE cargoes in the day's assessed physical range. As well as all BFOE cargoes loading between 10 days and one month from the date of assessment, this also includes all cargoes which have been deferred/advanced into or out of this range.

Platts will endeavor in the first instance to ask the original equity holder of the BFOE cargo, as listed in the first loading program as published by Platts. However, Platts also expects this information from any company which may reasonably be expected to have knowledge of a cargo's current loading dates either through the BFOE chaining process or previous trading activity.

In line with Platts' commitment to transparent and orderly price discovery, a timely response is expected to any such requests for current Forties cargo dates. A failure to meet Platts guidelines for such transparency may lead to a review of a company's participation in Platts MOC assessment processes. Such reviews are designed to help ensure that transactional information and other data inputs used as the basis for Platts price assessments are representative of market value on an ongoing basis.

Any program changes received by Platts after this schedule is made available will be published as updates on Platts Global Alert page 3, and as a manual headline on Platts eWindow.

Please send any further comments and feedback to europe_crude@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.