Platts seeks feedback of Buckeye South Texas Gateway terminal into Dated Brent assessment process

Platts, part of S&P Global Commodity Insights, seeks feedback on inclusion of Buckeye South Texas Gateway Terminal into Dated Brent Assessment Process

Platts proposes including Buckeye South Texas Gateway Terminal as a loading terminal for WTI Midland crude oil into its Dated Brent and Cash BFOE Market on Close assessment process from June 2023.

Platts' recent decision to include WTI Midland into the Brent complex, and clarification of the review process by which loading terminals are included in the assessment process, can be found here https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/060822-platts-clarifies-usgc-terminal-review-process-for-wti-midland-in-brent-complex.

Upon successful review and meeting Platts criteria, sellers would be able to nominate WTI Midland meeting Platts specification loaded from Buckeye South Texas Gateway Terminal for inclusion into the Dated Brent/Cash BFOE assessment process. The terminal, located in Ingleside, Texas, is wholly owned by Buckeye South Texas Gateway Terminal, LLC, a joint venture between Buckeye Partners L.P., Phillips 66 Company, and Marathon Petroleum Company LP. It handles bulk storage and marine loading of crude oil. The terminal has two docks, that can fit up to a VLCC-sized vessel and 8 million barrels of storage capacity, 3.2 million barrels of which is for WTI Midland crude oil storage.

Please send all feedback to PriceGroup@spglobal.com and Europe_Crude@spglobal.com by Sept. 30, 2022. For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.