Platts launches low sulfur diesel STS Lome assessment

• Platts clarifies Nigeria (Lekki, Lagos) as location basis for low sulfur diesel FOB West Africa assessment
• Platts launches new low sulfur diesel STS Lome assessment, location basis Togo (Lome)

Platts has observed shifting supply dynamics in West Africa for refined products since the Dangote refinery started operations in December 2023, producing naphtha, gasoil and fuel oil since the first quarter of 2024, before producing diesel mid-2024 and most recently 50 ppm sulfur gasoline in September 2024, displacing imports, predominantly from Europe, into West Africa.

Nigeria has progressively lowered its gasoil/diesel import sulfur specification from a maximum of 3,000 ppm to 200 ppm in March 2024, and then to 50 ppm in June 2024. This adds to the demand for low-sulfur diesel in West Africa, with Ghana already an importer of maximum 50 ppm sulfur diesel. In addition, traditional gasoil/diesel export hubs to West Africa in Belgium and the Netherlands have both banned the export of fuels with a sulfur content higher than 50 ppm outside the EU.

Market feedback following these changes in the dynamics of the West African diesel market has identified the need to price both diesel supply from the Dangote refinery, and diesel imports from the offshore STS-location of Lome, Togo. Platts, part of S&P Global Commodity Insights, is therefore clarifying the basis location of its low sulfur diesel FOB West Africa assessment (AWFRA00) as Nigeria (Lekki and Lagos) and has launched a new daily assessment for low sulfur diesel imports on an STS basis offshore Lome, Togo, effective April 7, 2025:

The existing low sulfur diesel FOB West Africa assessment (AWFRA00) reflects the value of cargoes, typically 20,000-40,000 mt each, based on fixtures observed for loading 3-10 days forward from the date of publication, with values normalized to reflect the mean of the loading period. Platts may consider FOB indications reflecting other cargo sizes within West Africa and normalize them back to the basis quantity and location.

The new low sulfur diesel STS Lome assessment (ABNWF00) reflects the value of cargoes, typically 5,000-20,000 mt each, for STS loading offshore Lome arriving on a DAP basis, 3-10 days forward from the date of publication, with values normalized to reflect the mean of the loading period. Platts may consider DAP indications reflecting other cargo sizes within West Africa and normalize them back to the basis quantity and location.

Both assessments reflect cargoes meeting a maximum of 50 ppm sulfur and a minimum flash point of 66 degrees Celsius. Platts may also take into account indications for other merchantable diesel grades appropriate for West African supply and normalize them back to the reference specification.

All market information reported to Platts may be considered for publication, including firm bids, offers, transactions and indications of value, as well as any other data deemed relevant to the assessment process.

The assessments can be found in European Marketscan as well as on Platts Global Alert and Platts Refined Products Alert fixed page 1122 and are published on an outright basis in $/mt, time-stamped at 4:30 pm London time.

Platts continues to monitor evolving West African oil product flows and seeks industry feedback on its existing West African refined oil products assessment methodology.

Please send any feedback, questions or comments to europe_products@spglobal.com and pricegroup@spglobal.com .

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