SUBSCRIBER NOTE RESEND: Platts amends Asia gasoline sulfur, RVP, benzene specs

(Resending subscriber note published November 9, 2015)

Platts confirms that it will amend the specifications for gasoline reflected in its FOB Singapore 92 RON unleaded, 95 RON unleaded and 97 RON unleaded assessments.

The changes follow a consultation on gasoline specifications launched by Platts on May 24, and reflects the feedback received.

Under these changes, Platts will lower the Reid Vapor Pressure specification to a maximum of 9.5 PSI, from 10 PSI currently.

Platts will also reduce the maximum benzene content from 5% to 2.5%.

Platts will move all three gasoline grades down to a maximum of 350 ppm (0.035%), from 500 ppm (0.05%) currently.

The amended specifications will take effect from July 1, 2016, and cargoes traded in the Platts Market on Close assessment process from that point should meet these revised specification standards.

These changes reflect evolving quality standards in Singapore, where gasoline trading reflects supply and demand across the Asia Pacific and Middle East.

Gasoline bought and sold in Singapore is commonly blended to cater to requirements in key regional markets. Platts Singapore gasoline specifications have evolved to ensure that they continue to reflect a generic blend that is in line with broader industry standards.

Over the period of consultation, Platts has reviewed the sulfur levels guaranteed in various export refineries in the region and in Singapore and found that most of them are producing gasoline with sulfur levels below the 350 ppm level.

Platts periodically reviews the specifications of all its assessments to ensure they are representative of the most tradable grades. Such reviews may lead to changes to the existing specifications of an assessment, though any changes are subject to further industry consultation ahead of any final decision.

Platts last updated the specifications of these assessments in January 2014.

Platts current specifications for Singapore gasoline assessments can be viewed at http://www.platts.com/IM.Platts.Content/MethodologyReferences/ MethodologySpecs/Asia-refined-oil-products-methodology.pdf

Please send all comments, feedback and questions to pl_asia_oilproducts@platts.com and pricegroup@platts.com.

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