SUBSCRIBER NOTE: Platts to reflect Exxon SCP's Banyan facility in Singapore MOC process

S&P Global Platts will include ExxonMobil Singapore Chemical Plant's Banyan facility -- previously known as the Jurong Aromatics plant -- as a loading point in the Singapore Market on Close assessment process for gasoil and jet fuel starting November 1, 2017.

Platts invited feedback on the proposal to include the facility as a loading point in a subscriber note published June 4, 2017. Platts extended the review on August 2, to collect further data for the complex. In August 2017, ExxonMobil Asia Pacific Pte Ltd completed the acquisition of the facility from Jurong Aromatics Corp. Pte Ltd.

Platts uses the Singapore MOC process to assess the value of oil across Asia and the Middle East. The benchmark FOB Singapore price assessments reflect FOB Straits bids, offers and trades, wherein the seller may nominate cargoes for loadings from approved terminals in Singapore and Malaysia.

From November 1, sellers in the MOC process would be able to nominate the SCP Banyan facility as a loading point for cargoes traded on a FOB Straits basis. Delivery of oil from SCP Banyan would be subject to the performance and nomination requirements prevailing in the FOB Straits markets.

The list of Straits terminals reflected in the FOB Singapore MOC process is published in the methodology and specification guide "Asia Pacific And Middle East Refined Oil Products" at https://www.platts.com/methodology-specifications/oil.

Located in Jurong Island, Singapore, the complex houses a 100,000 b/d condensate splitter designed primarily to produce aromatics. The complex also produces 2.50 million mt/year of petroleum products such as jet fuel, ultra low sulfur diesel, light naphtha, LPG, hydrogen and fuel oil.

Platts understands the complex uses two tanks each for storage for gasoil and jet fuel, with a combined capacity to store about 500,000 barrels of each product. The complex has three jetties, each with the maximum depth of 17 meters. Jetty No. 1 (OJAC1) is capable of handling Long Range 2 tankers.

Please send any feedback or questions to asia_products@spglobal.com and pricegroup@spglobal.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.