Bloomberg News

TNK-BP Said to Sell April ESPO Cargoes to Shell, Sinochem

March 15, 2012

TNK-BP, the Russian oil venture, sold two cargoes of East Siberian Pacific Ocean crude, or ESPO, for April loading, one each to Royal Dutch Shell Plc (RDSA) and Sinochem International Co., said four traders who declined to be identified because the information is confidential.

The 100,000 metric-ton cargoes sold at premiums of about $3.20 to $4.10 a barrel to Middle East benchmark Dubai, according to two of the traders.

OAO Surgutneftegas, Russia’s fourth-largest oil producer, was said to sell ESPO crude for loading in April at premiums of about $3.80 to $4.30 a barrel to Dubai on March 13.

---------------------------------------------------------------
Crude:        ESPO  (Russia)
Quantity:     100,000 tons (730,000 barrels)
Pricing:      Premium of $3.20 to $4.10 a barrel to Platts Dubai
Buyers:       Shell (April 14-15)
              Sinochem (April 26-27)
Seller:       TNK-BP
Port:         Kozmino Bay Terminal, Russia’s Far East
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To contact the reporters on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net; Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

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


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