Bloomberg News

Rosneft Said to Sell Primorsk Urals Crude to Shell, Statoil

March 15, 2012

OAO Rosneft, Russia’s largest oil producer, sold Urals crude loading from April to September at the Baltic Sea port of Primorsk to Royal Dutch Shell Plc (RDSA) and Statoil ASA (STL), two traders who participate in the market said.

The volumes were not known, said the people, who declined to be identified because the information is confidential. Rosneft offered as much as 7.2 million metric tons in 100,000- ton lots in a tender earlier this week.

The producer also awarded 80,000-ton cargoes of the blend to Warly International and 140,000-ton cargoes to Vitol Group for shipment from the Black Sea port of Novorossiysk, according to the people.

Rosneft offered as much as 2.52 million tons of Urals (EUCSURMD) in 140,000-ton lots and 2.4 million tons in 80,000-ton shipments for loading in April to September.

In a separate tender, Rosneft awarded five cargoes totaling 450,000 tons of CPC Blend crude for loading from April to June to Glencore International Plc, the traders said.

The Caspian Pipeline Consortium, which operates the only crude export pipe in Russia with foreign shareholders, operates a link that carries oil from Kazakhstan’s western fields to a terminal close to Novorossiysk. The grade transported on this link is called CPC Blend.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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