S&P Global Platts proposes to change the specification reflected in its West Africa Gasoline FOB Northwest Europe assessment (Code: AAKUV00) to a maximum of 500 ppm sulfur from the current maximum of 1,000 ppm, with effect from January 2, 2020.
The change would also affect the West Africa Gasoline CIF West Africa (Code: AGNWC00) assessment, which is derived as a freight net-forward to West Africa Gasoline FOB Northwest Europe.
The proposal follows a change in demand in West Africa. Nigeria, the largest importer of gasoline in the region, recently updated the specifications for gasoline imported through its Direct Sale/Direct Purchase (DS/DP) mechanism for 2019 and 2020 to a maximum of 500 ppm sulfur from 1,000 ppm sulfur previously.
Nigeria typically imports around 1 million mt per month of gasoline and Europe is the largest supply point. Prior to the change of the specifications in the DS/DP mechanism, grades typically exported from Northwest Europe to Nigeria had already been reported to be meeting sulfur limits lower than 500 ppm.
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