S&P Global Platts has updated the mt-to-barrel conversion factors used in the Mean of Platts West India Netbacks for 95 RON gasoline and 10 ppm sulfur gasoil to bring them in line with the Mean of Platts Singapore assessments, from which these netbacks are derived, effective April 1, 2021.
Under the change, the conversion factor used in MOPWIN 95 RON gasoline is now 8.5, from 8.4 previously, and the conversion factor for MOPWIN 10 ppm sulfur gasoil is now 7.45, from 7.62 previously.
Platts first proposed this change in a subscriber note published Jan. 29, 2021: http://plts.co/YjKo30ryiJo.
The change will align the two netback assessments with the conversion factors used for the FOB Singapore 95 RON gasoline and FOB Singapore 10 ppm sulfur gasoil assessments, as the MOPWIN assessments for 95 RON gasoline and 10 ppm sulfur gasoil are derived by deducting freight costs from the assessments for the same products in Singapore.
The affected assessments are:
These assessments appear in Asia-Pacific/Arab Gulf Marketscan and Oilgram Price Report; on Platts Global Alert pages 2304, 2305, 2012, 2360, 2361, 2404, 2405, 2460, 2461; and in the Platts price database under the codes above.
Separately, Platts has previously announced a decision to update the basket of ports used in the $/mt calculations for its India-Singapore, India-Japan and India-South Korea Medium Range clean tanker assessments to fully reflect loadings from West Coast India ports and deliveries into South Korean ports from April 1, 2021. That subscriber note is available here: http://plts.co/jMNl30rtr2b.
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