Platts reduces West Africa gasoline FOB NWE sulfur limit to 50 ppm effective Dec 2

Platts, part of S&P Global Commodity Insights, has reduced the maximum sulfur limit reflected in its West Africa gasoline FOB Northwest Europe cargo assessment (AAKUV00) from 500 ppm to 50 ppm, effective Dec. 2.

This follows a proposal on Sept. 2 detailed here, the feedback period for which was extended on Oct. 4 and is detailed here. On Nov. 11, the proposal was clarified to reduce the maximum sulfur limit to 50 ppm, as detailed here.

Platts understands that gasoline exports from both Belgium and the Netherlands must now satisfy a sulfur limit of maximum 50 ppm. The Netherlands banned gasoline exports higher than 50 ppm in August 2022, with Belgium aligning itself with the Netherlands following a royal decree signed in May 2024, which became effective in September 2024. Given that the assessment reflects material FOB Northwest Europe basis Amsterdam, the change will align the reflected sulfur specifications with applicable legislation in the region.

In addition, following market feedback, the Nigerian gasoline import specification has been progressively lowered since autumn 2023 to reflect lower sulfur grades.

The West Africa gasoline FOB Northwest Europe assessment, which is FOB basis Amsterdam, with bids and offers from other locations in Northwest Europe normalized back to Amsterdam basis, currently reflects gasoline with a maximum sulfur limit of 500 ppm, minimum 91 RON, maximum Reid Vapor Pressure of 9 psi and density range of 0.75-0.78 kg/l at 15 degrees Celsius.

The Platts West Africa gasoline CIF West Africa assessment (AGNWC00), which is a freight net-forward from the FOB Northwest Europe assessment, will also reflect a maximum of 50 ppm sulfur following the change.

In its assessment process, Platts may publish bids and offers for other merchantable gasoline grades appropriate for West African delivery and normalize these back to the reference specification.

More details can be found on the online methodology guide at europe-africa-refined-products-methodology.pdf.

Please send any feedback, questions or comments to europe_products@spglobal.com and pricegroup@spglobal.com.

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