S&P Global clarifies on Russia-origin material in CIF NWE naphtha cargo MOC

S&P Global Commodity Insights would like to clarify that its Platts oil price assessments reflect merchantable material in the physical spot market. Platts has observed that, for a significant portion of the European naphtha spot market, material of Russian origin is no longer deemed merchantable on the same basis as other production regions.

As such, Platts assessments of European naphtha will no longer reflect Russia-origin product, effective immediately. All bids, offers and trades in the Platts Market on Close assessment process for European naphtha markets will no longer reflect Russia-origin material. In performance of trades reported in the MOC, required documentation proving the origin of the material should not be unreasonably withheld.

This clarification applies to Naphtha Cargoes CIF NWE (PAAAL00) and related netback and net-forward assessments. Further information on Platts consideration of merchantability can be found in the following subscriber note, published March 2, 2022:

Further guidance on sanctions, embargoed material in S&P Global Commodity Insights' Platts price assessment processes, reachable at: https://www.spglobal.com/commodity-insights/en/our-methodology/subscriber-notes/030222-further-guidance-on-sanctions-embargoed-material-in-s-p-global-commodity-insights-platts-price-assessment-processes.

Please send all feedback, comments or questions 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 S&P Global for public viewing. S&P Global will consider all comments received and will make comments not marked as confidential available to the public upon request.