Bloomberg News

Glencore Said to Buy Sokol Crude for July From Rosneft

May 14, 2012

OAO Rosneft (ROSN) sold a cargo of Russia’s Sokol crude to Glencore International Plc (GLEN) for July loading at a premium of about $7.50 a barrel more than benchmark Dubai prices, said two traders who participate in the market, declining to be identified because the information is confidential.

Details of the deal are as follows:

--------------------------------------------------------------
Crude:         Sokol (Russia)
Price:         Premium of about $7.50 a barrel above average of
               Platts Dubai, including cost and freight (C.F.R.)
Buyer:         Glencore
Quantity:      95,000 tons
Period:        July 6-16
Seller:        Rosneft
---------------------------------------------------------------

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

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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