SUBSCRIBER NOTE: QUALITY PREMIUMS FOR MAY 2018-LOADING CARGOES

Effective April 3, 2018, the North Sea Quality Premium for May 2018-loading cargoes of Oseberg crude will be $1.0470/b, while a Quality Premium of $0.5744/b will be set for May 2018-loading cargoes of North Sea Ekofisk crude.

The month-ahead Ekofisk and Oseberg QPs can be found on Platts Global Alert pages 1210 and 1212, respectively, in Crude Oil Marketwire, and under codes AAXDZ00 and AAXDX00.

Current month QPs can be found on the same page and under codes AAXDY00 and AAXDW00, respectively.

The QPs are published to four decimal places and at 60% of the net price differences between Ekofisk and Oseberg, and the most competitive grade of crude among Brent, Forties, Oseberg, Ekofisk and Troll during the month prior to announcement.

Platts no longer applies a threshold for minimum QPs. Previously, the lowest QP possible for Oseberg and Ekofisk was 25 cents/b. A QP of zero was announced if 60% of the observed price difference was less than a net 25 cents/b.

Platts announced in a subscriber note published August 17, 2017 that this threshold would be removed from December 1, 2017 for January 2018-loading cargoes.

Platts announces QPs on the first publishing day of each month, a month prior to the escalators coming into effect.

Platts has made available a Question & Answer document in English, Mandarin and Russian that further elaborates on commonly raised questions from all respondents on its Dated Brent homepage at https://www.platts.com/price-assessments/oil/dated-brent

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