SUBSCRIBER NOTE: Platts revises Eastern Canada crude assessments

With effect from July 5, 2017, S&P Global Platts has revised the loading period reflected in its East Coast Canadian crude cargo assessments and the underlying Canada Dated Brent strip. This change was initially proposed on July 28, 2016, and had previously been set for implementation on June 1, 2017.

To capture the majority of Atlantic Canadian crude trades Platts will reflect cargoes loading 30-60 days forward in its published outright and differential assessments. To reflect a forward market value over the same time period, Platts has also updated the calculation of the underlying Canada Dated Brent strip to 33-63 days forward from the date of assessment.

The updated strip is published as "Canada Dated Brent Strip 33-63 days" appearing on PGA pages 230 and 1250 and in Crude Oil Marketwire and Oilgram Price Report under the product code AALEJ00. The existing Canada Dated Brent strip has been renamed "Dated Brent Strip 31-45 Days" and is published under the product code AALDJ00 in Crude Oil Marketwire and in the Platts Pricing Database.

These changes were first proposed in a subscriber note published July 28, 2016. The subscriber note can be found here: http://www.platts.com/subscriber-notes-details/10021127

The change affects Platts assessments for cargoes loading in Newfoundland. The outright price assessments that have been affected are: Terra Nova (AAJUH00), Hibernia (AAJKK00) and White Rose (AAVJX00). The differentials for Terra Nova (AAJUJ00), Hibernia (AAJKM00) and White Rose (AAVJY00) are applied against the newly calculated 33-63 day Canada Dated Brent strip.

These assessments appear in Platts Global Alert pages 230, 232, 296 and 1250, in Platts Crude Oil Marketwire, Oilgram Price Report, and North American Crude and Products Scan.

Please send any further comments or feedback to americas_crude@spglobal.com and pricegroup@spglobal.com.

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