Platts clarifies Publishing Guidelines for Direct Confirmed Data reported in West Africa Refined Products

Platts, part of S&P Global Energy, would like to clarify publishing guidelines for participants wishing to report bids or offers in its West Africa Refined Products assessment process as direct, confirmed data.

When determining a final market assessment, Platts gives the highest priority to fully verifiable and transparent market information from entities that have been reviewed for participation in the Market on Close assessment process.

In the more nascent West Africa Refined Products markets, Platts may publish firm bids or offers as Direct, Confirmed Data for gasoline, diesel or jet fuel loading on an STS Lome or FOB Lekki/Lagos basis which are open to the marketplace as a whole.

Firm bids or offers published by Platts as Direct, Confirmed Data would include typical terms relevant to the commodity [loading/delivery; location; timing; specification; quantity, etc.] and are transactable. Bids or offers for material loading over dates which fall outside of the stipulated assessment period, and/or other safe ports within West Africa, e.g. Tema-Ghana, Lekki or Lagos or Port Harcourt-Nigeria may be published and normalized to reflect the assessment basis. Bids and offers may be submitted on a named or unnamed basis.

Firm bids or offers published as Direct, Confirmed Data will be available on the real-time Platts Global Alert (PGA 5) page and on relevant communication tools to the market.

Named example [Direct, Confirmed Data]

Unnamed example [Direct, Confirmed Data]

Firm bids and offers published as Direct, Confirmed Data would be subject to the same timing and increment guidelines for West Africa Refined Products, proposed in a March 12 subscriber note, available here: Platts proposes to introduce MOC timing, increments guidelines for West Africa Refined Products assessments | S&P Global .

Details of the Platts Europe and Africa Refined Oil Products assessment methodology can be found here: refined-products-europe-africa-specifications.pdf .

For more information on the counterparty review process, please refer to MOC Participation Guidelines, available here .

Entities that wish to participate in the MOC process can contact market_integrity_review@spglobal.com .

Please send all feedback, comments and questions to Europe_products@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. Platts will consider all comments received and will make comments not marked as confidential available upon request.