SUBSCRIBER NOTE: Platts to launch CFR South Africa oil product assessments

S&P Global Platts will launch new net forward assessments for CFR South Africa oil products with effect from August 1, 2018.

These assessments were proposed in a note published April 25, 2018. (https://www.platts.com/subscriber-notes-details/21888409)

With domestic refineries unable to meet demand for road fuels, South Africa imports a significant volume of refined products, with increasing volumes being imported from the Middle East.

Specifically, Platts will launch CFR assessments for 95 RON gasoline, jet fuel/kerosene, 10 ppm gasoil and 500 ppm gasoil. The 95 RON gasoline, jet fuel/kerosene, and 10 ppm gasoil assessments will be calculated as net forward assessments from Platts' existing FOB Fujairah oil product assessments.

Platts will calculate the net forward by applying the Platts daily assessment for AG-South Africa 35,000 mt clean tanker assessment to the FOB Fujairah oil product assessments. Platts proposes that the CFR South Africa 500 ppm gasoil assessment will be calculated by applying the FOB AG Gasoil 500 ppm premium/discount to the MOPAG Gasoil 10 ppm strip. The Platts AG-South Africa 35,000 mt assessment will then be added to this.

All of the South African refined product assessments will be published in US$/barrel. The publication schedule of the new assessments will be based on Platts' existing publication schedule for Fujairah oil assessments.

Please send all feedback or questions to asia_products@spglobal.com and pricegroup@spglobal.com

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