SUBSCRIBER NOTE: Platts to update Russian crude export netbacks

Platts has decided to update its Russian crude export calculations and nomenclature as of November 1, 2016. The decision follows a proposal note sent on September 12, 2016.

Platts Urals FIP domestic prices will reflect the same day's Urals 80,000 ex-Novorossiysk and Primorsk FOB spot differential assessments as the basis of calculations. These changes will affect all Platts Urals FIP Russia prices.

Currently, for these calculations, Platts uses the previous day's Urals differentials. Platts has noted feedback supporting a change to the more timely publication.

Separately, Platts will change the names of its "Calendar month netback" and "Mid-month netback" prices to "Russian calendar month index" and "Russian mid-month index" prices.

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. Platts will consider all comments received, and will make comments not marked as confidential available upon request.