SUBSCRIBER NOTE: Platts proposes discontinuation of CIF Augusta Kumkol assessments

Platts proposes to discontinue its CIF Augusta Kumkol outright and differential assessments effective October 1, 2015. Platts is making this proposal for the discontinuation of these assessments due to the conclusion of Kumkol exports out of the Black Sea.

Platts currently assesses CIF Augusta Kumkol on a daily basis, reflecting cargoes of between 30,000-100,000 mt loading out of the Black Sea and delivered into the Mediterranean. Currently, Platts publishes both a CIF Augusta Kumkol differential assessment (AALOW00) and an outright assessment (AAHMP00). These assessments currently appear on Platts Global Alert page MH1220 and in the Platts Crude Oil Marketwire.

Kumkol, which is produced in Kazakhstan, was previously delivered via rail to the Black Sea port of Batumi, where it was then loaded for export. Loadings of the grade once averaged some 170,000 mt/month, but volumes have been gradually declining over the last several years and have been averaging below 30,000 mt/month for more than a year. Exports of the grade are expected to halt completely early in 2015.

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