Platts to update China fuel oil methodology July 1

Platts proposes to amend the methodologies and specifications of its China fuel oil assessments listed below with effect from July 1, 2012, in keeping with the changes in the trading patterns in those markets. These assessments will continue to be published in Platts Asia-Pacific/Arab Gulf Marketscan and on Platts Global Alert pages 750 and 770. At the same time, Platts will start to publish the value-added tax incorporated in its China assessments. Platts also will launch a MOPS 180 CST assessed value for the period 7 to 14 days forward from the date of publication, and a MOPS 380 CST assessed value for the period 15 to 35 days forward from the date of publication. Please send all comments or questions by June 15, 2012 to asiaproducts@platts.com and pricegroup@platts.com SUMMARY OF PROPOSED CHINA METHODOLOGY CHANGES: Huangpu STS 2.5% (D) including tax (AAOWI00, AAOWJ00) will change to reflect a barge size of between 500 mt and 1,000 mt and bunker grade specification fuel oil with maximum sulfur content of 3.5%.

Huangpu FOB 2.5% (D) including tax (AAOWN00 and AAOWO00) will change to reflect a barge size of between 500 mt and 1,000 mt and bunker grade specification with maximum sulfur content of 3.5%. Huangpu C+F 3.5% (I) (AANVP00, AANVR00 and AANVQ00), which was a 180 CST grade, will change to Huangpu C+F 3.5% (I) 380 CST grade. Platts will publish the premium to MOPS, and the outright price in Yuan/mt and US$/mt. Shanghai C+F 3.5% (I) (AAOKG00, AAOKI00 and AAOKH00), which was a 180 CST grade, will change to Shanghai C+F 3.5% (I) 380 CST grade. Platts will publish the premium to MOPS, and the outright price in Yuan/mt and US$/mt. Shanghai FOB 1.5% (D) including tax (AAOWS00 and AAOWT00) will change to reflect bunker grade specification fuel oil with maximum sulfur content of 3.5%

Qingdao FOB 1.5% (I) including tax (AAUQZ00 and AAOKR00) will change to reflect a barge size of between 10,000 mt and 20,000 mt loading 7 to 14 days ahead of the date of publication.