Bloomberg News

Rosneft Said to Sell April ESPO to Vitol; May Sokol to BP, Warly

March 13, 2012

OAO Rosneft (ROSN) sold one cargo of East Siberia Pacific Ocean crude, or ESPO, for April loading to Vitol Group at a premium of about $4.10 a barrel above benchmark Dubai oil, according to three traders who participate in the market who declined to be identified because the information is confidential.

The Russian producer also sold two cargoes of Sokol crude for loading in May to BP Plc (BP/) and Warly International at a premium of about $7.50 to $8.10 a barrel to Dubai, according to the traders.

Details of the sale are as follows:

-----------------------------------------------------------
Crude:        ESPO (Russia)
Quantity:     100,000 tons (730,000 barrels)
Price:        Premium of about $4.10 to Platts Dubai
Basis:        Free on board
Buyers:       Vitol
Loading:      April 21 to April 22
Seller:       Rosneft
Port:         Kozmino Terminal, Russia’s Far East
--------------------------------------------------------------
Crude:        Sokol (Russia)
Quantity:     2 x 100,000 tons (2 x 730,000 barrels)
Price:        Premium of $7.50 to $8.10 a barrel to Platts Dubai
Basis:        Cost, insurance and freight
Buyers:       BP (May 6 to May 15)
              Warly (May 22 to May 31)
Seller:       Rosneft
Port:         DeKastri Terminal, Russia’s Far East
---------------------------------------------------------------

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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