Bloomberg News

TNK-BP Said to Sell March ESPO Cargoes for Less Than Last Month

February 01, 2012

Feb. 1 (Bloomberg) -- Russia’s TNK-BP sold two 100,000- metric ton cargoes of East Siberian Pacific Ocean crude, or ESPO, for loading in March to Statoil ASA and Royal Dutch Shell Plc, according to three traders who participate in the market, declining to be identified because the information is confidential.

The cargoes were sold at a premium of around $5.50 to $6 a barrel to benchmark Dubai prices, lower than the $6.30 that March loading cargoes sold for in January.

The details of the deals are as follows:

--Editors: Christian Schmollinger, Mike Anderson

To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

To contact the editor responsible for this story: Mike Anderson at manderson34@bloomberg.net


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