SUBSCRIBER NOTE: Platts proposes to amend Middle East products methodology

Following a review of the volumes and nomination procedures reflected in its Middle East gasoline, naphtha, gasoil, jet fuel and fuel oil spot cargo differential assessments, Platts proposes to amend elements of these assessments from April 1, 2015. Platts opened a review of these procedures in December 2013 and the proposals that follow are the result of industry feedback and discussion collated in that process. Platts has no plans to change or amend the methodology for its outright FOB Arab Gulf oil products netback assessments. Platts proposes to make changes to the following spot market differentials assessments: Assessment Code Volume Loading Period Naphtha AAPKH00 25 kt 20-40 days Gasoline 95 AAWUJ00 200-300 kb 20-40 days Gasoline 95 CFR AAWUK00 200-300 kb 20-40 days Jet Kero PJACV00 200-300 kb 20-40 days Gasoil 50 ppm AASGK00 200-300 kb 20-40 days Gasoil 500 ppm AAFFD00 200-300 kb 20-40 days Gasoil 0.25% AACUC00 200-300 kb 20-40 days Gasoil POAID00 200-300 kb 20-40 days FO 180 AAXJA00 No change (20-40kt) 20-40 days FO 380 AAXJB00 No change (20-40kt) 20-40 days

Cargoes loading from the following Gulf ports would be considered for inclusion in the assessments: Jubail, Jebel Ali, Mina Al Ahmadi, Quoin Island, Shuaiba, Ras Tanura, Ruwais, Mina Abdulla, Sohar, Bahrain, Fujairah, Ras Laffan and any safe and sound port within this geographic area. The assessments would be normalized to loadings in Fujairah for all products and in Bandar Abbas for Gasoline 95 CFR. For all trades reported through Platts Market on Close process for the above assessments, 12 days prior to loading, seller would declare terminal. Seven days prior to loading, buyer would nominate vessel, and narrow loading window to three days, subject to terminal acceptance. Platts invites feedback as to whether these changes should be introduced April 1, 2015 or earlier. Under Platts current methodology, the above assessments reflect the following specifications: Assessment Code Volume Loading Period Naphtha AAPKH00 55 kt 15-30 days Gasoline 95 AAWUJ00 30-40 kt 15-45 days Gasoline 95 CFR AAWUK00 30-40 kt 15-45 days Jet Kero PJACV00 100-250 kb 15-30 days Gasoil 50 ppm AASGK00 150-250 kb 15-30 days Gasoil 500 ppm AAFFD00 150-250 kb 15-30 days Gasoil 0.25% AACUC00 150-250 kb 15-30 days Gasoil POAID00 150-250 kb 15-30 days FO 180 AAXJA00 20-40 kt 15-30 days FO 380 AAXJB00 20-40 kt 15-30 days In the current nomination process, seven days prior to loading, seller must declare terminal and buyer nominates vessel with loading window narrowed to three days, subject to terminal's acceptance. Platts periodically reviews the specifications of all its assessments to ensure they are representative of the most tradeable grades or sizes. Such reviews may lead to changes to the existing specifications of an assessment, though any changes would be subject to further industry consultation ahead of any final decision. Please send submissions for the review process should be sent to asia_products@platts.com and pricegroup@platts.com by October 1, 2014. 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.