SUBSCRIBER NOTE: Platts proposes to reflect cargoes pricing after b/l in North Sea physical MOC

Following feedback from market sources, S&P Global Platts proposes publishing North Sea crude oil bids, offers and trades for cargoes pricing on the five days after bill of lading, in addition to existing price bases, effective for all cargoes loading from June 1, 2018 onwards.

Platts currently only publishes bids and offers for North Sea cargoes pricing five days around the bill of lading. This includes grades loading in Norway and Denmark, as well as those loading in the United Kingdom.

Platts understands that a significant proportion of crude oil produced in Norway and Denmark prices using the average of Platts Dated Brent assessments for the five days after the bill of lading.

Platts would continue to publish bids and offers pricing around bill of lading. Any market indications pricing in a different way will be normalized back to this standard.

This proposal applies to all North Sea crude oil grades assessed by Platts, including those loading in the United Kingdom, Norway or Denmark.

This proposal does not affect cargoes pricing on a Cash BFOE-related basis.

Please send any comments and feedback by February 28 2018 to europe_crude@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.