Platts proposes renaming, launch of new Group 1 US base oils

Platts, part of S&P Global Commodity Insights, proposes to change Americas Group 1 Base Oils spot assessment names, methodology and publishing schedule, effective Dec. 11, following feedback from the market.

In addition, Platts proposes to launch matching Group 1 base oil assessments.

Assessment names:

Platts proposes to change the names of the following assessments:

Assessment code	Current assessment name	Proposed assessment name
PLAAB00	150SN Paraffin USGC	Group 1 SN150 FOB USGC
PLAAE00	500SN Paraffin USGC	Group 1 SN500 FOB USGC
PLAAH00	Bright Stock USGC spot Hi	Group 1 Bright Stock FOB USGC

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

Methodology:

Platts proposes to add to the methodology for the above assessments to reflect the following specifications and bases:

Group 1 SN150 FOB USGC (PLAAB00)

ASTM Color	Maximum 1.5
Appearance	Bright and Clear
Viscosity at 40 degrees Celsius	28-35 millimeters squared per second (cSt)
Viscosity at 100 degrees Celsius	4.4-5.6 millimeters square per second (cSt)
Viscosity Index	Minimum 95
Flash Point	Minimum: 200 degrees Celsius
Pour Point	Maximum: minus 9 degrees Celsius
Clip Size	2,000-10,000 mt
Laycan	10-20 days forward loading
Port basis	USGC
Pricing Basis	$/mt

Group 1 SN500 FOB USGC (PLAAE00)

ASTM Color	Maximum 4
Appearance	Bright and clear
Viscosity at 40 degrees Celsius	100-125 millimeters squared per second (cSt)
Viscosity at 100 degrees Celsius	9.5-13 millimeters square per second (cSt)
Viscosity Index	Minimum 93
Flash Point	Minimum: 210 degrees Celsius
Pour Point	Maximum: minus 6 degrees Celsius
Clip Size	2,000-10,000 mt
Laycan	10-20 days forward loading
Port Basis	USGC
Pricing Basis	$/mt

Group 1 Bright Stock FOB USGC (PLAAH00)

ASTM Color	Maximum 6
Appearance	Bright and clear
Viscosity at 100 degrees Celsius	30-35 millimeters square per second (cSt)
Viscosity Index	Minimum 95
Flash Point	Minimum: 270 degrees Celsius
Pour Point	Maximum: minus 6 degrees Celsius
Clip Size	2,000-10,000 mt
Laycan	10-20 days forward loading
Port Basis	USGC
Pricing Basis	$/mt

NEW PROPOSED GROUP 1 ASSESSMENTS

Group 1 SN150 Domestic FOB Rail tank

ASTM Color	Maximum 1.5
Appearance	Bright and Clear
Viscosity at 40 degrees Celsius	28-35 millimeters squared per second (cSt)
Viscosity at 100 degrees Celsius	4.4-5.6 millimeters square per second (cSt)
Viscosity Index	Minimum 95
Flash Point	Minimum: 200 degrees Celsius
Pour Point	Maximum: minus 9 degrees Celsius
Trade Size	Minimum 25,000 gallons
Laycan	10-20 days forward loading
Pricing Basis	$/gal
Conversion Factor ($/gal to $/mt)	303

Group 1 SN500 Domestic FOB Rail tank

ASTM Color	Maximum 4
Appearance	Bright and clear
Viscosity at 40 degrees Celsius	100-125 millimeters squared per second (cSt)
Viscosity at 100 degrees Celsius	9.5-13 millimeters square per second (cSt)
Viscosity Index	Minimum 93
Flash Point	Minimum: 210 degrees Celsius
Pour Point	Maximum: minus 6 degrees Celsius
Trade Size	Minimum 25,000 gallons
Laycan	10-20 days forward loading
Pricing Basis	$/gal
Conversion Factor ($/gal to $/mt)	298

Group 1 Bright Stock Domestic FOB Rail tank

ASTM Color	Maximum 6
Appearance	Bright and clear
Viscosity at 100 degrees Celsius	30-35 millimeters square per second (cSt)
Viscosity Index	Minimum 95
Flash Point	Minimum: 270 degrees Celsius
Pour Point	Maximum: minus 6 degrees Celsius
Trade Size	Minimum 25,000 gallons
Laycan	10-20 days forward loading
Port Basis	USGC
Conversion Factor ($/gal to $/mt)	294

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

Frequency:

The above Group 1 assessments would be published on a weekly basis in $/gal for domestic assessments and $/mt for export assessments.

These would take into consideration price information gathered during the week ahead of the assessment, with indications normalized to the close at 2:30 pm ET US close time each Wednesday.

The assessments would reflect the values of physical base oils cargoes at the close of 2:30 pm ET Wednesdays and would follow a US publishing schedule.

When a US public holiday falls on the planned publishing day, the assessment will be published the day prior to the public holiday.

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

Please send any questions, comments ,or feedback to americas_products@spglobal.com with a copy to pricegroup@spglobal.com by Nov. 22.

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.