Platts Launches New Americas Crude Marker to Capture U.S. Gulf Coast Values

HOUSTON - Platts, a leading global energy information provider, today confirmed it
will launch a major new crude oil price assessment to capture the
representative value of crude oil in the U.S. Gulf of Mexico, the main hub
for refining, production, importing and handling of crude oil in the United
States. Platts’ decision to begin publishing the new price assessment follows
a period of extensive consultation with oil market participants.

Platts’ new assessment, the Americas Crude Marker (ACM), will be
published on a daily basis and joins the company’s existing slate of U.S.
sweet and sour crude oil assessments. The ACM assessment each day will
reflect the most competitively priced crude oil among four U.S. Gulf Coast
pipeline sour crudes: Mars, Poseidon, Southern Green Canyon, and Thunder
Horse. The combined production of these crudes exceeds 800,000 barrels a day.

“Market participants have long expressed the need for a benchmark that
reflects broad crude oil economics in the U.S. Gulf Coast,” said Jorge
Montepeque, global director of market reporting for Platts. “In this
location, there is a strong confluence of buyers, sellers and refiners of
crude oil, the necessary ingredients for reliable price formation.”

The name for Americas Crude Marker was originally proposed as Americas
Sour Marker. However, based on market feedback and consultation, it was
determined that the name Americas Crude Marker would better reflect the
refining economics, import flows and production in the United States.

“The initial response by industry to the ACM has been very favorable,”
said Dan Tanz, vice president editorial, Platts. “Producers and consumers
have been seeking better indicators of crude oil value in the Americas. We
are pleased to offer the market what we believe will be a valuable new
reference price that captures the breadth of activity in the Americas’ crude
oil trading center.”

Platts will publish ACM assessments for the first three months of trade.
On March 16, ACM assessments will reflect crudes traded for April, May and
June. The trading month rollover for ACM will take place on the first
business day after the 25th of each calendar month, in line with the trading
month rollover for the existing sour crude pipeline assessments. On March 26,
ACM assessments will reflect trading for May, June and July.

More information is available on ACM, including a background discussion
paper
(www.platts.com/Oil/Resources/Market%20Issues/wtipricing.pdf?S=n)
and a Question & Answer document
(www.platts.com/Oil/Resources/Methodology%20&%20Specifications/asmqa.
pdf?S=n). For more detailed information on Platts’
global crude oil price assessment methodology
(www.platts.com/elqNow/elqRedir.htm?ref=../Oil/Resources/Methodology
%20%26%20Specifications/crudeoilspecs.pdf?S=n), visit the Platts website
www.Platts.com.

About Platts: Platts, a division of The McGraw-Hill Companies
(NYSE: MHP), is a leading global provider of energy and commodities
information. With a century of business experience, Platts serves customers
across more than 150 countries. An independent provider, Platts serves the
oil, natural gas, electricity, emissions, nuclear power, coal,
petrochemical, shipping, and metals markets from 17 offices worldwide.
Platts’ real-time news, pricing, analytical services and conferences help
markets operate with transparency and efficiency. Traders, risk managers,
analysts, and industry leaders depend upon Platts to help them make better
trading and investment decisions. Additional information is available at
www.platts.com.

Source: Platts

Kathleen Tanzy of Platts, +1-212-904-2860, Kathleen_tanzy at platts.com; or Non-Americas Media Contacts: Asia, Casey Yew, +65-653-06552, or Europe, Shiona Ramage, +44207-1766153