SUBSCRIBER NOTE: Platts to amend quality specs for Mideast gasoline assessments

Following market feedback, S&P Global Platts will amend the quality specifications reflected in its assessments of 95 RON gasoline cargoes loading in the Middle East, effective July 3, 2017. The decision follows a proposal note published on March 12, 2017.

The Platts FOB Fujairah outright assessments and the 95 RON Arab Gulf FOB and CFR spot differential assessments would begin reflecting the new gasoline specifications from July 3.

The change in gasoline specification for the Middle East will not affect the FOB Arab Gulf 95 RON netback assessments. Platts has no plans to change or discontinue the Arab Gulf 95 RON netback, and this assessment will continue to reflect FOB Singapore 95 RON gasoline specifications.

Platts gasoline netback price assessments for the Middle East derive their values from the price assessments at the regional trading hub of Singapore after adjusting for shipping costs.

Platts began publishing independent outright assessments of 95 RON gasoline on a FOB Fujairah basis from October 3, 2016. A subscriber note announcing the launch can be accessed here: http://platts.com/subscriber-notes-details/27680061

Initially, the FOB Fujairah outright and Arab Gulf FOB and CFR differential assessments have reflected the same specifications that are reflected in Platts FOB Singapore 95 RON assessments. However, Platts will now amend these to reflect a gasoline blend that more closely reflects the quality of fuels used and traded in the Middle East.

Gasoline specifications differ from country to country in the Middle East. The proposed gasoline blend represents a generic grade that would be broadly deliverable across the region, in some cases after further blending.

Platts will consider bids, offers and interest to trade 95 RON gasoline cargoes, typically 200,000 to 300,000 barrels, reflecting the proposed specifications for loading 20 to 40 days from the date of assessment. Market participants need to specify loading for a five-day date range at the time of submitting a bid or offer for publication.

Cargoes loading from the following Gulf ports are considered for inclusion in the FOB Fujairah assessments: Jubail, Jebel Ali, Mina Al Ahmadi, Quoin Island, Shuaiba, Ras Tanura, Ruwais, Mina Abdulla, Sohar, Bahrain, Fujairah, Ras Laffan and any safe and sound port within this geographic area. The FOB Fujairah outright assessments are normalized to loadings in Fujairah.

Platts only publishes offers where sellers specify at least one and no more than three representative load points and only publishes bids where buyers specify at least three representative load points.

New specifications for 95 RON Gasoline for the Middle East and current specifications:

New Specifications Current Specifications Appearance Clear -- Colour Undyed Undyed, light yellow Corrosion, Copper Strip (3 Hrs. at 50 deg C) Max 1 Max 1 Density at 15 deg C kg/cu-m 0.72-0.78 Min 0.72 Distillation 10% vol recovered at (deg C) Max 65 Max 74 50% vol recovered at (deg C) Max 120, Min 80 Max 127, Min 80 90% vol recovered at (deg C) Max 180 Max 190 End point (deg C) Max 210 Max 225 Residue, vol% Max 2 Max 2 Doctor Test Negative Negative, or mercaptan sulfur max 15 ppm Gum, Existent (mg/100 ml) Max 4 Max 4 Induction Period (minutes) Min 480 Min 240 Lead Content (g/L) Max 0.013 Max 0.013 Research Octane Number 95 95 Motor Octane Number 85 -- Reid Vapor Pressure at 37.8 deg C Max 9 Max 9.50 Sulfur, wt% Max 100 ppm Max 350 ppm Allowed Oxygenate/MTBE (If added) Max 15 (of which Max 14.0 (of which max max MTBE content MTBE content of 10.0) of 10.0) Alcohol No additions of No additions any alcohol of any alcohol Aromatics, vol% Max 35 Report Benzene, vol% Max 1 Max 2.5 Olefins, vol% Max 18 -- Odor Marketable Marketable Additives No metal additives; No added metal no metal octane additives boosters

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