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05 May 2016 | 04:20 UTC — Houston
Following Buckeye Pipeline's notification that it will no longer complete regular shipments of No. 2 heating oil (gasoil), Platts is proposing to discontinue its assessment for Buckeye Pipeline No. 2 gasoil after its final publication on October 31, 2016.
The proposal to discontinue this assessment follows Buckeye Pipeline's decision to halt nominations of No. 2 heating oil on its pipeline to allow for compliance with Pennsylvania regulations. Starting July 1, 2016, Pennsylvania plans to introduce new maximum sulfur level standards for heating oil.
Ahead of the possible discontinuation, Platts proposes to amend its assessment methodology for Buckeye Pipeline No. 2 heating oil by assessing this value in line with the barge market for No. 2 heating oil on the US Atlantic Coast, as these markets historically have been highly correlated.
For a complete list of all affected assessments and their database codes, please see the table below. These assessments are also published on Platts Global Alert page 482 and in the US Marketscan and Oilgram Price Report.
ASSESSMENT CODE MONTHLY AVERAGE Gasoil No. 2 New Jersey Buckeye pipeline AAJNP00 AAJNQ00
Platts invites comments on this proposal by May 20, 2016. Please send all further comments or questions to Americas_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.