SUBSCRIBER NOTE: Platts proposes discontinuing Russian domestic spot crude assessments

Platts proposes discontinuing the publication of its Russian domestic spot crude oil assessments, also known as FIP outright assessments, from April 2, 2018. The proposed discontinuation reflects the changing pattern in Russian domestic crude trading away from fixed prices toward formula-based contracts, as well as reduced spot market liquidity in the internal Russian domestic crude market. Platts will continue to publish its mid-month and calendar-month indexes, which reflect netback values for domestic crude. However, under this proposal Platts would discontinue the differential between the mid-month index and the FIP outright crude oil assessments. This proposed change relates solely to the Russian domestic market and would have no impact on the current suite of Platts Russian crude export market assessments. Under this proposal, Platts would stop publishing the following FIP outright spot crude oil assessments:

- Urals FIP Surgut (daily code AAUDH00, monthly code AAUDH03) - Urals Moscow (daily code AAUDJ00, monthly code AAUDJ03) - Nizhnevartovsk (daily code AAUNJ00, monthly code AAUNJ03) - Samara (daily code AAUNI00, monthly code AAUNI03) - Volgograd (daily code AAUNK00, monthly code AAUNK03) - Novorossiysk (daily code AAUNL00, monthly code AAUNL03) - Nizhniy Novgorod (daily code AAUNM00, monthly code AAUNM03) - Ryazan (daily code AAUNN00, monthly code AAUNN03) - Ufa (daily code AAUDG00, monthly code AAUDG03) - Yaroslavl (daily code AAUNO00, monthly code AAUNO03) - Primorsk (daily code AAUNP00, monthly code AAUNP03)

The proposal would also result in the discontinuation of the following differential spot crude oil assessment:

- Crude Differential (daily code AAWHU00, monthly code AAWHU03)

The Platts outright daily and monthly value conversions in $/mt and $/barrel for the above FIP outright crude oil assessments would also be discontinued as part of this change. Please send any comments and queries to europe_crude@spglobal.com and pricegroup@spglobal.com by November 30, 2017. 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 those not marked as confidential available on request.