Updated 2012 netback for Australia assessments

Please note that Platts has updated a key base rate used to create its Australia refined oil product netbacks, following an amendment to the base freight rate.

The Worldscale flat basis rate used to calculate C+F Australia unleaded gasoline, jet and gasoil assessments will be updated to $21.30/mt, superseding the $21.31/mt stated in Platts' previously published notice on 2012 netbacks. This update is effective immediately on May 16, 2012.

All other base rates remain unchanged from guidance published by Platts.

A complete list of freight-related calculations is available in Platts guide to specifications and methodology at http://www.platts.com/MethodologyAndSpecifications/Oil The actual freight applied to derive the netback or C+F assessments fluctuates daily based on changes in Platts Dirty Tanker Wire and Clean Tanker Wire, applied against the respective 2012 flat rates.

Please send any comments and questions to asia_products@platts.com and pricegroup@platts.com.