Platts to launch West India oil benchmarks

As announced at Platts' oil forum in Dubai on March 10, and widely discussed with market participants in India and the region, Platts proposes to launch a series of new Indian oil price benchmarks.

Platts proposes to launch Mean of Platts West India Netbacks (MOPWIN) for jet kerosene, 95 octane gasoline, naphtha and three grades of gasoil (10ppm sulfur, 500 ppm sulfur and 2500 ppm sulfur) for loading out of ports on the West Coast of India.

The new prices would be netbacks from Singapore and Japan. The values would be arrived at by deducting freight costs from the applicable jet kerosene, gasoil and gasoline assessments in Singapore, and naphtha assessments in Japan.

Platts West Coast India-Singapore and West Coast India-Japan clean freight rates can be found in Platts Clean Tankerwire, and on Platts Global Alert.

Platts invites all questions, comments and other feedback on this proposal from all interested parties.

Please send all initial feedback by April 10, 2009, to asia_products@platts.com and pricegroup@platts.com.