Chemicals, Refined Products, Aromatics, Diesel-Gasoil

November 08, 2024

Platts to change European VGO netback routes, assessment names Jan. 2

Platts, part of S&P Global Commodity Insights, will 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.

In addition, Platts will change the name of some of the affected assessments to reflect the updated ports.

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

This change was outlined in an Oct. 11 proposal, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/101124-platts-proposes-to-change-european-vgo-netback-routes-assessment-names-jan-2-2025

The following changes will take effect Jan. 2:

Assessment code: Current Assessment name: New name: Updated load ports:
ABBAD00 LSVGO Black Sea FOB Med LSVGO

Santa Panagia Bay (50%)

Cartagena (30%)

Laconia Bay (20%)
ABBAC00 HSVGO Black Sea FOB Med HSVGO

Santa Panagia Bay (50%)

Cartagena (30%)

Laconia Bay (20%)
AAHMX00 VGO 0.5%-0.6% FOB NWE Retain existing name

Antwerp (40%)

Rotterdam (40%)

Amsterdam (20%)
AAHNB00 VGO 2.0%S FOB NWE

Retain existing name

Antwerp (40%)

Rotterdam (40%)

Amsterdam (20%)

As part of this methodology change, there will be no 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 .

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Platts will consider all comments received and will make comments not marked as confidential available upon request.