MOC publishing guidelines for European refined products barges, effective Sept. 1

Platts, part of S&P Global Commodity Insights, wishes to clarify the publishing guidelines for bids, offers and trades reported in its Market on Close assessment process of European refined product barges that exclude Russian-origin material, effective Sept. 1, 2022.

Effective Sept. 1, bids, offers and trades for barge markets where the assessment does not reflect Russian-origin material will be published without additional language stipulating restrictions on origin. In line with the basis of the assessment, bids, offers and trades will be deemed to be for material guaranteeing Russian-origin exclusion.

Participants in the MOC assessment process who wish to communicate via the eWindow platform will be able to select the typical relevant eWindow instrument to communicate bids, offers and interests to trade for European refined products barges that exclude Russian-origin material.

In a subscriber note published June 23, Platts clarified the origin standards reflected in assessments that exclude Russian-origin material. In the note, Platts stated that its assessments that exclude Russian-origin material reflect oil that is not wholly, or in part, produced, manufactured or processed in Russia, or exported from Russia. These assessments also reflect transactions where the performing vessels are not Russian flagged/registered or Russian owned. The subscriber note is reachable at https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/062322-platts-clarifies-standards-for-assessments-that-exclude-russian-origin-material.

Additionally, Platts has clarified MOC performance expectations on origin restrictions, through a subscriber note published April 11, available at the following link: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/041122-s-p-global-clarifies-moc-performance-expectations-on-restricted-origin-trades-for-oil-products

Platts is additionally reviewing publishing guidelines applicable to bids, offers and trades reported in its Market on Close assessment process of European refined product cargoes that exclude Russian-origin material.

Platts announced on Aug. 1 that it had decided to exclude Russian-origin material from its European LPG, gasoline, jet fuel, 1%S fuel oil and 0.5%S marine fuel assessments effective Sept. 1, 2022. The subscriber notes announcing the decisions can be reached at the following links:

Platts to exclude Russian-origin material from European LPG assessments effective Sept. 1, 2022 https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080122-platts-to-exclude-russian-origin-material-from-european-lpg-assessments-effective-sept-1-2022

Platts to exclude Russian-origin material from European gasoline assessments effective Sept. 1, 2022 https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080122-platts-to-exclude-russian-origin-material-from-european-gasoline-assessments-effective-sept-1-2022

Platts to exclude Russian-origin material from European jet fuel assessments effective Sept. 1, 2022 https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080122-platts-to-exclude-russian-origin-material-from-european-jet-fuel-assessments-effective-sept-1-2022

Platts to exclude Russian-origin product from European 1%S FO and 0.5%S MF assessments Sept. 1 https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080122-platts-to-exclude-russian-origin-product-from-european-1s-fo-and-05s-mf-assessments-sept-1

Please send any further feedback, questions or comments to Europe_products@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 to the public upon request.