CLARIFICATION NOTE: Singapore, Mideast Gasoil strip, cash differentials to reflect 500 ppm till year-end

Ahead of the change to 10 ppm sulfur in the benchmark FOB Singapore and FOB Arab Gulf Gasoil assessments on January 2, 2018, S&P Global Platts will reflect 0.05% (500 ppm) sulfur gasoil in its Mean of Platts Singapore and Mean of Platts Arab Gulf Gasoil strips until December 29, 2017.

Alongside this, Platts published cash differentials for gasoil 0.25%, 500 ppm, 50 ppm and 10 ppm gasoil against MOPS Gasoil, and the Arab Gulf cash differentials for gasoil 0.25%, 500 ppm, 50 ppm and 10 ppm gasoil against MOPAG Gasoil, will be basis gasoil 0.05% throughout this period.

Platts will continue to publish a separate MOPS Gasoil 10 ppm Strip reflecting 10 ppm sulfur gasoil and associated cash differentials to the end of 2017. In 2018, this strip will be published under the name MOPS Singapore Gasoil Strip.

For the purposes of assessing the MOPS Gasoil strip, MOPAG Gasoil strip and associated cash differentials during December, Platts will also assess 0.05% sulfur MOPS and MOPAG gasoil swaps for January and February.

In December 2016, Platts announced plans to lower the sulfur specification of its flagship Singapore Gasoil assessment to 10 ppm from the current 0.05% (500 ppm) effective January 2, 2018.

At the same time, Platts announced plans to lower the sulfur specification of its flagship Arab Gulf Gasoil netback assessment, and all other current 500 ppm gasoil cargo assessments, to 10 ppm concurrently.

The lower sulfur specifications reflect changing supply and demand trends across the regions.

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