Subscriber note: Platts to leave Forties de-escalator unchanged December 1

Effective December 1, 2012, the sulfur de-escalator to be applied in Forties cargoes and related instruments in the Platts North Sea assessment process will be $0.35/barrel per 0.1% weight of sulfur over the 0.6% wt standard, unchanged from the current de-escalator value, which has been in place since October 1, 2012. The de-escalator should apply to cargoes loading from December 1, 2012. Platts reviews the de-escalator in light of the key market indicators, including differentials between low- and high-sulfur crudes and products. A rationale for this decision shall shortly be available on Platts website, www.platts.com. Platts expects to announce the de-escalator for January on December 21, 2012, the final full publishing day before December 25. Platts will run assessment processes on Monday, December 24, with an early close of 12.30 pm London time for all European assessments. Platts guidelines for its sulfur de-escalator use three significant figures for determination of sulfur-related payment. The test reflecting this figure should be the ASTM-D2622. Forties cargoes and all related instruments, including BFOE cash forwards, bid or offered through the Platts system must adhere to this standard. In addition, Platts will publish the sulfur de-escalator, representing the dollar value per 0.1% weight of sulfur, in its crude oil publications. Please send comments to europe_crude@platts.com and pricegroup@platts.com.