Argus eyes low-sulphur marine gas oil benchmark in Singapore
Changes will take effect next year.
A senior company official from commodity pricing agency Argus told Reuters that the group is eyeing to lower the sulphur content of its benchmark gas oil assessments in Singapore and the Middle East from January 2018.
This follows a move by rival oil pricing agency S&P Global Platts to make a similar change, also from the beginning of next year, and is in line with a global shift towards cleaner fuels.
Argus is proposing that its free-on-board Singapore and Middle East 10 parts-per-million (ppm) sulphur gas oil price assessments will become the basis against which it prices other gas oil grades.
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