Platts to make Singapore gasoil announcement May 15

Platts intends to announce on May 15, 2012 at 4:45 pm Singapore time (0845 GMT) a recommended differential that will reflect the Platts view of the relative difference in value between 0.5% (5,000 ppm) sulfur gasoil and 500 ppm gasoil in the Singapore spot market.

The release of the differential reflects requests from across the market and other interested parties for Platts to issue a guidance value that may be used to amend the value of gasoil derivatives and other contracts that will settle against the Platts FOB Singapore Gasoil benchmark assessment from January 2013 onwards.

Platts announced in July 2011 that its FOB Singapore "0.5%S Gasoil" assessment would be renamed FOB Singapore "Gasoil" on January 3, 2012, and stated that Platts intended to steadily reduce the amount of sulfur reflected in the benchmark assessment over time.

Platts announced in November 2011 that it would lower the sulfur specification of the flagship Singapore Gasoil assessment to 500 ppm from the current 0.5% (5,000 ppm) on January 2, 2013.

The assessment appears on real-time service Platts Global Alert page 6, in APAGScan and in Oilgram Price Report. Please send comments and questions to oilgroup@platts.com and pricegroup@platts.com.