Phibro new trading entity July 1

Please note that Phibro will transfer all the business activities of Phibro GmbH to Phibro Commodities Ltd. effective July 1, 2010.

Phibro Commodities Ltd. is a recently-formed UK subsidiary of Phibro Trading LLC, an indirect subsidiary of Occidental Petroleum Corporation.

Phibro Commodities Limited will be Phibro's physical commodity trading subsidiary for the EMEA and Asia-Pacific regions.

After the transfer, Phibro Commodities Ltd. will appear in Platts' market-on-close assessment processes facilitated by eWindow.

All companies trading with Phibro in MOC are advised to take necessary steps to ensure trading continuity.

Please send questions or comments to asia_crude@platts.com, europe_crude@platts.com and pricegroup@platts.com.