Commodities and Futures News

Russia’s Rosneft ramps up oil sales to Indian Oil in May – traders

2022.05.06 12:20

Russia's Rosneft ramps up oil sales to Indian Oil in May - traders
FILE PHOTO: The Rosneft logo is pictured on a safety helmet in Vung Tau, Vietnam April 27, 2018. REUTERS/Maxim Shemetov

(Reuters) – Russia’s Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp (IOC), the country’s top refiner, two traders familiar with the matter told Reuters on Friday.

Rosneft allocated seven cargoes of 100,000 tonnes each loading between May 15 and 31 to IOC, according to the traders.

In May IOC will load Rosneft-sourced Urals oil volumes from Baltic ports for the first time. Previously the major buyers of the cargoes were trading firms Vitol and Trafigura.

However, international traders will stop purchases of oil from Rosneft after May 15 as EU sanctions over several Russian companies come into effect.

Last December IOC and Rosneft signed a term contract for supply of up to 2 million tonnes of Urals oil until the end of 2022.

Under the agreement IOC has bought several Urals cargoes from the Black Sea port of Novorossiisk this year.

It was not immediately clear if the May supplies come as a part of the existing contract or as a part of the new agreement.

Last week Reuters sources said that Rosneft was negotiating supply deals with several Indian refiners including IOC.

Rosneft and Indian oil representatives did not immediately reply to Reuters requests for comment.

India has asked state-run energy companies to evaluate the possibility of buying European oil major BP (NYSE:BP)’s stake in sanctions-hit Russian firm Rosneft, two people familiar with the matter said in late April.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 104,343.96 0.15%
ethereum
Ethereum (ETH) $ 2,553.91 1.53%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.46 3.45%
bnb
BNB (BNB) $ 686.29 4.13%
solana
Solana (SOL) $ 175.25 0.43%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.245986 5.37%
cardano
Cardano (ADA) $ 0.830191 3.72%
tron
TRON (TRX) $ 0.271575 3.27%
staked-ether
Lido Staked Ether (STETH) $ 2,550.32 1.47%
sui
Sui (SUI) $ 4.15 3.45%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 104,229.93 0.42%
chainlink
Chainlink (LINK) $ 17.33 4.26%
pi-network
Pi Network (PI) $ 1.53 44.32%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,071.02 1.68%
avalanche-2
Avalanche (AVAX) $ 25.27 1.77%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 6.17%
stellar
Stellar (XLM) $ 0.318916 3.98%
hedera-hashgraph
Hedera (HBAR) $ 0.213336 2.40%
the-open-network
Toncoin (TON) $ 3.53 3.18%
hyperliquid
Hyperliquid (HYPE) $ 25.00 0.64%
bitcoin-cash
Bitcoin Cash (BCH) $ 415.65 0.38%
polkadot
Polkadot (DOT) $ 5.24 2.90%
leo-token
LEO Token (LEO) $ 8.49 1.87%
litecoin
Litecoin (LTC) $ 103.01 1.41%
usds
USDS (USDS) $ 1.00 0.01%
weth
WETH (WETH) $ 2,552.56 1.48%
monero
Monero (XMR) $ 343.61 4.08%
pepe
Pepe (PEPE) $ 0.000015 11.04%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,727.37 1.69%
bitget-token
Bitget Token (BGB) $ 4.94 1.24%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.38%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 104,414.98 0.24%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.00%
whitebit
WhiteBIT Coin (WBT) $ 30.27 0.08%
uniswap
Uniswap (UNI) $ 7.10 0.53%
bittensor
Bittensor (TAO) $ 459.52 0.47%
near
NEAR Protocol (NEAR) $ 3.21 0.36%
aptos
Aptos (APT) $ 6.04 0.51%
dai
Dai (DAI) $ 1.00 0.01%
ondo-finance
Ondo (ONDO) $ 1.07 2.85%
aave
Aave (AAVE) $ 222.16 0.28%
okb
OKB (OKB) $ 55.52 0.03%
kaspa
Kaspa (KAS) $ 0.125983 18.62%
internet-computer
Internet Computer (ICP) $ 6.00 6.15%
ethereum-classic
Ethereum Classic (ETC) $ 20.35 2.17%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
crypto-com-chain
Cronos (CRO) $ 0.101631 1.34%
official-trump
Official Trump (TRUMP) $ 14.36 2.96%