Platts to rename Singapore 0.5%s gasoil assessment in 2012

Platts proposes to rename its flagship Singapore "0.5%S Gasoil" assessment on January 3, 2012, as Singapore "Gasoil."

The renaming will facilitate the transition of the current 0.5% sulfur gasoil Asian benchmark to lower sulfur specifications over the coming years, reflecting changing supply and demand trends across the region.

Platts intends for the newly renamed "Gasoil" assessment to reflect material containing 0.5% sulfur for the whole of 2012, but Platts invites comments on the exact timing of a change to a lower sulfur standard.

Over time, Platts plans to steadily reduce the amount of sulfur reflected in the benchmark assessment.

The assessment appears on real-time service Platts Global Alert PGA 6, in APAGScan and in Oilgram Price Report.

Please send all initial feedback and comments by August 31, 2011, to asia_products@platts.com and pricegroup@platts.com.