Platts to rename FOB Westridge Low TAN assessment, update specifications

Platts, part of S&P Global Commodity Insights, will update the assessment name for Low TAN Dilbit loading FOB Westridge and the specifications for that assessment and the assessment of Pacific Dilbit, effective Sept. 2, 2024.

Both changes are to align with changes made by the Trans Mountain Pipeline in June.

Platts will rename Low TAN Dilbit to "Pacific Cold Lake." This is to be aligned with the name of the pools the Trans Mountain Pipeline system is shipping, following an updated service standard in June.

The assessment will be updated to be called "Pacific Cold Lake" in all the places where it appears, including the assessment name for the outright price and differentials to the ICE Brent, WTI CMA and Dubai CMA.

There will be no change to the Pacific Dilbit assessment's name.

Platts will also update the specifications for both the Pacific Cold Lake and Pacific Dilbit assessments to reflect the updated service standard for TMX in June.

The Pacific Cold Lake assessment will reflect a TAN (Total Acid Number) below 1.1 mgKOH/g and the Pacific Dilbit assessment will have a minimum TAN of 1.1 mgKOH/g. The current difference in TAN for both grades is 1.3 mgKOH/g.

All specifications reflect the accepted pool specifications as outlined by TMX.

Platts launched these FOB assessments on April 22 in anticipation of TMX's operation: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/042224-platts-launches-fob-crude-assessments-for-canadian-trans-mountain-pipeline-expansion

The assessments are available on Platts Global Alert pages 210, 211, 230, 231, 232 and 233. They are published in Crude Oil Marketwire, North America Crude and Product Scan and Oilgram Price Report.

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