Platts to change Oman MOG Swap nomenclature

Platts proposes to change the nomenclature for its current month plus one, month plus two and month plus three assessments of "MOG Swap" to "Oman Swap"; "MOG Swap Diff" to "Oman / Dubai Swap."

The proposed changes would take effect from from October 1, 2010.

Platts would additionally discontinue assessment of current month "MOG Swap Diff" after September 30, 2010.

Oman swaps are a derivative of the Platts cash Oman assessment.

In the absence of bids and offers for Oman swaps, Platts will take into account the structure of the Dubai forward curve for assessing Oman swaps, and maintain the practice that Oman will never be valued lower than Dubai.

Platts also plans from October 1, 2010, to change the nomenclature of current month plus one "Oman MOG" to "Oman Cash / OSP," and will discontinue current month plus two and month plus three assessments of "Oman MOG" after September 30, 2010.

These assessments are published on Platts Global Alert pages 442, 433 and 644, and in Platts Crude Oil Marketwire.

Please send comments and queries by September 1, 2010, to asia_crude@platts.com and pricegroup@platts.com.