Refined Products

November 08, 2024

Platts to change Group 1 Base Oils assessments names, specifications, publishing schedule

Platts, part of S&P Global Commodity Insights, will change the current monthly, European Group 1 Base Oils spot assessments names, methodology and publishing schedule, effective on Dec. 11, 2024.

Assessment names:

Platts will change the names of the following assessments:

Assessment code Current assessment name Proposed assessment name
PLAAC00 150SN Paraffin NWE Group 1 SN150 FOB Europe
PLAAF00 500SN Paraffin NWE spot Hi Group 1 SN500 FOB Europe
PLAAI00 Bright Stock NWE spot Hi Group 1 Bright Stock FOB Europe

In addition, Platts will change the name of the table in which these assessments appear on Oilgram Price Report from "Monthly spot Lube assessments" to "Weekly spot Base Oil assessments" to reflect the change in frequency of these assessments.

Methodology:

Platts will change the methodology for the above assessments to reflect the following specifications and bases:

Group 1 SN150 FOB Europe (PLAAC00)

ASTM Color Maximum 1.5
Viscosity at 40 degrees Celsius 28-35 millimeters squared per second
Viscosity at 100 degrees Celsius 5.2-5.9 millimeters square per second
Viscosity Index Minimum 95
Flash Point Minimum 200 degrees Celsius
Pour Point Maximum minus 9 degrees Celsius
Clip Size 1,000-5,000 mt
Laycan 10-20 days forward loading
Port basis Rotterdam

Group 1 SN500 FOB Europe (PLAAF00)

ASTM Color Maximum 4
Viscosity at 40 degrees Celsius 100-125 millimeters squared per second
Viscosity at 100 degrees Celsius 9.5-13 millimeters square per second
Viscosity Index Minimum 95
Flash Point Minimum 220 degrees Celsius
Pour Point Maximum minus 6 degrees Celsius
Clip Size 1,000-5,000 mt
Laycan 10-20 days forward loading
Port Basis Rotterdam

Group 1 Bright Stock FOB Europe (PLAAI00)

ASTM Color Maximum 6
Viscosity at 100 degrees Celsius 30-35 millimeters square per second
Viscosity Index Minimum 95
Flash Point Minimum 280 degrees Celsius
Pour Point Maximum minus 6 degrees Celsius
Clip Size 1,000-5,000 mt
Laycan 10-20 days forward loading
Port Basis Rotterdam

Following market feedback, the assessment size will reflect clip sizes of 1,000-5,000 mt. In its proposal subscriber note, published on Oct. 17, 2024, Platts originally proposed a vessel size of 3,000-5,000 mt. The proposal note can be reached at : Platts proposes to change Group 1 Base Oils assessments names, specifications, publishing schedule | S&P Global Commodity Insights

Platts base oil assessments will reflect bulk liquid cargo clips which may be delivered on a part cargo basis.

Pricing information with terms, locations, and specifications different from the above standard may be considered for assessment purposes, subject to normalization.

Platts understands that prevalent grades traded in the market often reflect specifications unique to large producers. The Platts specifications aim to encompass the parameters of the main producers for each grade.

The above Group 1 assessments will be published in $/mt and will take into consideration price information gathered during the week up to the close of the assessment process on Wednesday of each week at 4:30 pm London time, following a London publishing schedule.

Frequency:

These assessments will continue to be found in the Oilgram Price Report, on Platts Connect, and on Platts Global and Refined Product alert pages 1146.

For written comments, please provide a clear indication if they 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.