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