SUBSCRIBER NOTE: Platts to assess Minas, Tapis crude using full cargoes

Platts proposes to base its assessments on full cargoes for Malaysia's Tapis crude oil and Indonesia's Minas crude oil with effect from December 1, 2014. Through this proposed change, Platts would discontinue the use of the partials mechanism to assess Minas and Tapis. Instead, Platts would continue to publish bids, offers and transactions for full parcels of either grade. Platts proposes to amend the cargo size reflected in these grades to 100,000 barrels for Minas (down from 200,000 barrels currently) and 300,000 barrels for Tapis (down from 450,000 barrels currently), in line with existing trade in these grades. These proposed changes reflect evolving dynamics in Southeast Asia's crude oil markets. Crude oil available for trade in the spot market is generally trading in smaller physical loading sizes. Currently the partials mechanism for Minas leads to a convergence of a 200,000 barrel cargo of the grade following the accumulation of eight partials of 25,000 barrels from a single seller. The partials mechanism for Tapis leads to the convergence of a cargo of 450,000 barrels following the accumulation of eighteen partials of 25,000 barrels from a single seller. Please send feedback by October 1 to asia_crude@platts.com and pricegroup@platts.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 to the public upon request.