SUBSCRIBER NOTE: Platts to discontinue Kumkol crude oil assessments

Platts confirms that it will discontinue its CIF Augusta Kumkol outright and differential assessments effective October 1, 2015, as proposed in a note published on February 27. Platts is discontinuing these assessments due to the conclusion of Kumkol exports out of the Black Sea.

Platts currently assesses CIF Augusta Kumkol on a daily basis, reflecting cargoes of between 30,000-100,000 mt loading out of the Black Sea and delivered into the Mediterranean. Currently, Platts publishes both a CIF Augusta Kumkol differential assessment (AALOW00) and an outright assessment (AAHMP00). These assessments currently appear on Platts Global Alert page MH1220 and in the Platts Crude Oil Marketwire.

Kumkol, which is produced in Kazakhstan, was previously delivered via rail to the Black Sea port of Batumi in the Black Sea where it was then loaded for export. Loadings of the grade once averaged some 170,000 mt a month, but volumes have been gradually declining over the last several years and have been averaging below 30,000 mt per month for more than a year. Exports of the grade are expected to halt completely in 2015.

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