SUBSCRIBER NOTE: Platts to assess Forties de-escalator at 20 cents/b for September 2018

Effective September 1, 2018, the sulfur de-escalator to be applied to Forties cargoes and related instruments in the Platts North Sea assessment process will be 20 cents/b per 0.1% weight of sulfur over the 0.6% weight standard, unchanged from August.

The de-escalator should apply to cargoes loading from September 1, 2018. S&P Global Platts has assessed this de-escalator level after reviewing the change in outright crude value, the differential between low and high sulfur products, as well as the difference in value between North Sea crudes and comparable heavy, sourer crudes, such as Urals.

A rationale for this decision will be available shortly on the Platts website, www.spglobal.com/platts. It can also be accessed directly using the following URL: plts.co Platts guidelines for its sulfur de-escalator use three significant figures for determination of sulfur-related payment.

The test reflecting this figure should be the ASTM-D2622.

Forties cargoes and all related instruments, including BFOE cash forwards, bid or offered through the Platts system must adhere to this standard.

In addition, Platts will publish the sulfur de-escalator, representing the dollar value per 0.1% weight of sulfur, in its crude oil publications.

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