SUBSCRIBER NOTE: Platts to align timing of Russian assessments

Platts has decided to amend the timing reflected in its Russian crude and products domestic and export netback assessments from November 1, 2016 to align these with the prevailing values of related markets. The decision follows a proposal note sent on September 14, 2016.

Currently Platts Russian product export netbacks are based on calculations from assessments in Northwest Europe and the Mediterranean that reflect 16:30 London time and assessments in Asia that reflect 16:30 Singapore time. Platts Russian domestic crude and export netbacks currently reflect 16:30 Moscow time.

Platts has decided that all of its Russian prices will be aligned to the prevailing timestamp for Europe or Asia, as per the underlying calculations. In practice, this would mean that all Russian crude and products assessments, and crude netbacks, would reflect 16:30 London time, as would all Russian products netbacks from European products. All netbacks from Singapore assessments will reflect 16:30 Singapore time.

Please send any comments and queries to europe_products@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.