Thank you for your interest in The design and implementation of Platts control procedures to effectively address the provisions of the Principles for Oil Price Reporting Agencies published by the International Organization of Securities Commissions ("IOSCO") dated as of October 2012 (the "Principles"), including those portions prepared by Ernst & Young LLP ("EY") (the "Report").
This report is intended solely for the purpose of reporting on the design and implementation of Platts control procedures of the Platts Methodology Framework as they relate to the provisions of the Principles. EY have been appointed as external auditors to "review and report on the PRA's adherence to its stated methodology criteria and with the requirements of the principles" in accordance with principle 2.21.
The report should be read in full to understand the procedures performed, the conclusions reached and any limitations.
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