SUBSCRIBER NOTE: Platts to maintain current CIF NWE gasoline cargo assessment

Following a formal consultation on its CIF NWE gasoline cargo assessment, S&P Global Platts has decided to maintain its current methodology for this assessment.

The consultation note published November 7, 2017, can be found here: https://www.platts.com/subscriber-notes-details/26835081. Market feedback indicated that gasoline import flows continue to be reflected by the current methodology.

Specifically, both the specification and cargo sizes reflected are representative of delivered gasoline volumes within Northwest Europe.

The assessment will continue to reflect 10,000 mt cargoes of 10ppm gasoline delivered CIF basis Thames with 95 RON, 60/90 kPa summer/winter and 0.9% oxygenates by weight.

As part of this decision the full specification reflected will be published in Platts Europe and Africa Refined Oil Products Methodology and Specifications Guide as per the below: The CIF NWE cargo assessment reflects EN 228 material with a 95 RON, 85 MON and a specific gravity of 0.755 kg/l. The maximum sulfur content is 10 ppm. The aromatics limit is a maximum of 35%.

The assessment reflects material with a maximum oxygenate content of 0.9% by mass, and a maximum evaporation (E70) of 43% in winter specification material and 41% in summer specification material. Offers with a higher evaporation (E70) level should state the maximum limit.

The assessment reflects cargoes of 10,000 mt. Larger cargo sizes may be considered in the Platts MOC assessment process but normalized back to the reference cargo size.

The assessment reflects cargoes delivered CIF basis Thames with normal charter-party options within Northwest Europe. The assessment reflects the value of cargoes for delivery 10-25 days from the date of publication, with value normalized to reflect the mean of the delivery period.

In the absence of spot liquidity, Platts may consider differentials to other gasoline markets, such as Eurobob Gasoline Barges FOB AR or Premium Gasoline 10PPM Barges FOB AR, as well as prevailing Cross UK Continent freight rates.

The reference Reid Vapor Pressure [RVP] for the Platts winter specification 10 ppm gasoline CIF NWE cargo assessment is a maximum RVP of 90 kKiloPascals (kPa). For summer grade, Platts reflects a maximum of 60 kPa.

Please send any comments or queries to europe_products@spglobal.com with a cc to pricegroup@spglobal.com.

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