SUBSCRIBER NOTE: All Urals and Med MOC crude deals to include slippage days

Effective immediately, Platts reflects bids and offers for Urals and Mediterranean crude in the Platts Market On Close assessment process that can be supplied with cargoes whose two-day laycan meets at least one day of the five-day loading range, provided the seller bears any extra demurrage/shipping costs resulting from the early or later loading. This amendment to the methodology pertains, but is not limited, to Urals, CPC, Azeri and Siberian Light crude oil. Prior to this, Platts methodology allowed 'slippage days' in just Northwest European and Mediterranean Urals crude MOC deals. For example, if a bid for a cargo loading 16-20 July is received, a seller would be allowed to sell into the bid with a cargo loading 15-16 July or 20-21 July on condition the seller paid any extra shipping costs resulting from the early/later day loading. The seller, in exercising the option, would bear any additional costs resulting from the early or later loading. If the cargo is loaded fully within the five-day range then there are obviously no extra demurrage/shipping costs borne by the seller. Please send any comments or questions to europe_products@platts.com and pricegroup@platts.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.