SUBSCRIBER NOTE: Platts to update delivery period in ANS crude assessment

Following a period of feedback that ended October 15, Platts will update the delivery timing reflected in its Alaska North Slope crude oil assessment to reflect a trend in the market towards trading the crude oil for delivery further forward in time.

Platts currently assesses ANS for delivery to Long Beach, California in the front month time period. As an example, under current methodology, during the month of February Platts' ANS assessment reflects crude delivered in March. From March 1, the assessment reflects crude delivered in April.

Under the new assessed delivery period, Platts will roll its assessments forward to reflect deliveries in the second calendar month forward from the first publishing day on or after the 10th of each month. So Platts ANS assessment will reflect crude delivered in March from January 10 onwards, and until February 9; from February 10, the assessment would reflect crude delivered in April (and until March 9).

The change will be implemented with effect from April 1, 2016.

All assessments will continue to be published as an outright value and as a differential to the Calendar Month Average for cash WTI. The differential assessed and published will always reflect the CMA value of WTI crude versus the month reflected for delivery.

Platts ANS assessment is published as an outright value under Platts database code PCAAD00, and as a differential under Platts database code AAGX00. It is also published in Platts Crude Oil Marketwire, North American Crude and Products Scan and on Platts Global Alert pages 210 and 214.

Please send any further comments, questions or feedback to americas_crude@platts.com and copy 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.