Platts clarifies North Sea Cash BFOE assessment methodology

Platts, part of S&P Global Commodity Insights, wishes to clarify that Platts assessments of North Sea Cash BFOE reflect partials sizes of 100,000 barrels.

In its Market on Close (MOC) assessment process, Platts publishes bids, offers and trades for 100,000 barrel partials and multiples thereof as well as full cargoes of 700,000 barrels Cash BFOE.

In the event of an observed price conflict between indications for 100,000-barrel Cash BFOE partials and full 700,000-barrel Cash BFOE cargoes in the MOC, Platts will normalize all information to the basis of 100,000-barrel Cash BFOE partials, that being the more typically traded volume.

Platts European and African crude oil specifications guide can be found here.

Please send all feedback, comments or questions to europe_crude@spglobal.com and pricegroup@spglobal.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.