Asia Crude-Russia TNK-BP sells Aug ESPO at lower premium
SINGAPORE, June 25 |
SINGAPORE, June 25 (Reuters) - BP Plc's joint venture in Russia, TNK-BP, sold a cargo of ESPO Blend crude at a lower premium than the previous month as ample supply depressed oil prices, trade sources said on Monday.
But the grade did not fall as much as other Russian crudes such as Sokol and Vityaz as it has a relatively high content of middle distillates and demand for ESPO in Japan was brisk.
The 730,000-barrel cargo was sold to Japanese refiner JX Nippon Oil & Energy Group at a premium of about $3.75 per barrel to Dubai quotes, they said. The deal could not be confirmed.
TNK-BP last sold a cargo to load on July 22-25 to Trafigura at a premium of $4.10-$4.20 per barrel to Dubai quotes.
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