SUBSCRIBER NOTE: Platts Middle East crude cargo size update on Nov 1

Platts wishes to remind readers that it will amend the full cargo size reflected in its Dubai, Oman and Upper Zakum crude oil spot price assessment process to 500,000 barrels with effect from November 1. The change in cargo size takes effect for cargoes loading from January 2014 onwards. This change was announced on February 18, following extensive consultation. Currently, the cargo size of Dubai, Oman or Upper Zakum used in Platts assessment process is typically 475,000 barrels. Partial cargoes, trading in lots of 25,000 barrels each, currently converge into a full physical cargo when a 19th partial cargo is traded between a single buyer and a single seller. The seller declares the grade of crude to be delivered immediately upon full convergence. Under Platts' updated methodology, a 500,000-barrel cargo would require 20 partials for physical delivery instead of the current 19-partial system. Operational tolerance will remain as currently practiced and defined under Platts' methodology as 1,000 barrels maximum. This proposal was first announced on August 14, 2012, and reflects the evolution in volume standards for Middle East crude oil loadings where current deliveries of a cargo size of 500,000 barrels typically occur with a minor operational tolerance of 1,000 barrels. Please send any further comments or queries to asia_crude@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.