Clarification note: Singapore gasoil cash differentials in Nov, Dec 2012

Platts will reflect 0.5% sulfur gasoil in its Mean of Platts Singapore Gasoil Strip throughout November and December 2012. Cash differentials for 0.5%, 0.25%, 500 ppm, 50 ppm and 10 ppm gasoil against MOPS Gasoil will be basis gasoil 0.5% throughout this period as well. As previously announced, Platts will also publish a separate MOPS Gasoil 500 Strip reflecting 500 ppm sulfur gasoil, and associated cash differentials, from September 16 through to the end of 2012. Similarly, Platts FOB Arab Gulf cash differential assessments for gasoil 0.5%, 0.25%, 500 ppm and 50 ppm against Mean of Platts Arab Gulf Gasoil assessments will be basis gasoil 0.5% throughout November and December. Platts will not publish any assessment reflecting 0.5% sulfur gasoil cargoes from January 3, 2013. Therefore, for the purpose of assessing the MOPS Gasoil Strip and associated cash differentials in November and December, Platts will derive notional January and February gasoil 0.5% swaps using prevailing sulfur spreads at the time of assessment. These spreads will be fixed December 16 for the remainder of December. In November 2011, Platts announced plans to lower the sulfur specification of its flagship Singapore Gasoil assessment to 500 ppm from the current 0.5% (5,000 ppm) on January 2, 2013. At the same time, Platts announced plans to lower the sulfur specification of its flagship Arab Gulf Gasoil netback assessment, and all other current 5,000 ppm gasoil cargo assessments, to 500 ppm concurrently. The lower sulfur specifications reflect changing supply and demand trends across the regions. Please send all feedback and comments to asia_products@platts.com and pricegroup@platts.com