SUBSCRIBER NOTE: Platts confirms change to Middle East products assessments

Platts confirms the changes to its assessment process for volumes and nomination procedures reflected in its Middle East gasoline, naphtha, gasoil, jet fuel and fuel oil spot cargo differential assessments products to reflect new market conditions from April 1, 2015, following review.

Platts opened a review of these procedures in December 2013 and the changes that follow are the result of industry feedback and discussion collated in that process.

Platts has no plans to change or amend the methodology for its outright FOB Arab Gulf oil products netback assessments.

Platts will make changes to the following spot market differentials assessments:

Assessment Code Volume Loading Period Naphtha AAPKH00 25 kt 20-40 days Gasoline 95 AAWUJ00 200-300 kb 20-40 days Gasoline 95 CFR AAWUK00 200-300 kb 20-40 days Jet Kero PJACV00 200-300 kb 20-40 days Gasoil 50 ppm AASGK00 200-300 kb 20-40 days Gasoil 500 ppm AAFFD00 200-300 kb 20-40 days Gasoil 0.25% AACUC00 200-300 kb 20-40 days Gasoil POAID00 200-300 kb 20-40 days FO 180 AAXJA00 No change (20-40kt) 20-40 days FO 380 AAXJB00 No change (20-40kt) 20-40 days

Cargoes loading from the following Gulf ports would be considered for inclusion in the assessments: Jubail, Jebel Ali, Mina Al Ahmadi, Quoin Island, Shuaiba, Ras Tanura, Ruwais, Mina Abdulla, Sohar, Bahrain, Fujairah, Ras Laffan and any safe and sound port within this geographic area. The assessments would be normalized to loadings in Fujairah for all products and in Bandar Abbas for Gasoline 95 CFR.

Platts will only publish offers where sellers specify at least one and no more than three representative load points and will only publish bids where buyers specify at least three representative load points.

For all trades reported through Platts Market on Close process for the above assessments, 12 days prior to loading, seller would declare the terminal.

Seven days prior to loading, buyer would nominate the vessel, and narrow the loading window to three days, subject to terminal acceptance.

Platts periodically reviews the specifications of all its assessments to ensure they are representative of the most tradable grades or sizes. Such reviews may lead to changes to the existing specifications of an assessment, though any changes would be subject to further industry consultation ahead of a final decision.

Please send any further comments or questions to asia_products@platts.com and pricegroup@platts.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.