Platts proposes to change European VGO netback routes & assessment names, Jan 2 2025

Platts, part of S&P Global Commodity Insights, proposes to update netback routes for European vacuum gasoil cargoes on Jan. 2, to reflect a change in trade flows following European sanctions on Russian-origin oil products.

To date, Platts has retained Russian load ports in its FOB NWE basis Baltics and Black Sea netback assessments, in the absence of new consistent flows emerging.

The existing netback routes have retained Russian load ports despite the underlying assessments reflecting non-Russian VGO since Oct. 3, 2022.

In addition, Platts proposes to change the name of some of the affected assessments in order to accurately reflect the proposed ports.

The assessments under new names would continue to be found under the heading "European Feedstocks and Blendstocks" on page 2 of European Marketscan, in the table to be renamed "FOB Med" from "FOB Black Sea".

Platts proposes the following changes to take effect Jan. 2:

There are no proposed changes to the underlying assessments (VGO 0.5%-0.6% Cargoes CIF NWE, VGO 2.0%S CIF NWE, VGO 0.8% CIF Med Cargo, VGO 2% MAX CIF Med Cargo), their names or basis ports.

Please send feedback, questions or comments to europe_products@spglobal.com and pricegroup@spglobal.com by Oct. 31.

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.