SUBSCRIBER NOTE: Platts discontinues Russian domestic spot crude assessments

S&P Global Platts has discontinued the publication of its Russian domestic spot crude oil assessments, also known as FIP outright assessments, from April 3, 2018.

The discontinuation follows a proposal note sent on October 4, 2017

The discontinuation reflects a changing pattern of Russian domestic crude trading from fixed prices towards formula-based contracts, as well as reduced spot market liquidity in the internal Russian domestic crude market.

Platts continues to publish its mid-month and calendar-month indexes, which reflect netback values for domestic crude. However, Platts has discontinued the differential between the mid-month index and the FIP outright crude oil assessments.

This change relates solely to the internal Russian market, and would have no impact on the current suite of Platts Russian crude export market assessments.

Therefore, Platts has stopped publishing the following FIP outright spot crude oil assessments:

- Urals FIP Surgut (daily code AAUDH00, monthly code AAUDH03) - Urals Moscow (daily code AAUDJ00, monthly code AAUDJ03) - Nizhnevartovsk (daily code AAUNJ00, monthly code AAUNJ03) - Samara (daily code AAUNI00, monthly code AAUNI03) - Volgograd (daily code AAUNK00, monthly code AAUNK03) - Novorossiisk (daily code AAUNL00, monthly code AAUNL03) - Nizhniy Novgorod (daily code AAUNM00, monthly code AAUNM03) - Ryazan (daily code AAUNN00, monthly code AAUNN03) - Ufa (daily code AAUDG00, monthly code AAUDG03) - Yaroslavl (daily code AAUNO00, monthly code AAUNO03) - Primorsk (daily code AAUNP00, monthly code AAUNP03)

The following differential spot crude oil assessments have also been discontinued :

- Crude Differential (daily code AAWHU00, monthly code AAWHU03)

The Platts outright daily and monthly value conversions in $/mt and $/barrel for the above FIP outright crude oil assessments have also been discontinued as part of this change.

Please send any comments and queries to europe_crude@spglobal.com and pricegroup@spglobal.com.

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