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Rosneft oil tender thins ahead of deal with traders
February 25, 2013 / 5:50 PM / 5 years ago

Rosneft oil tender thins ahead of deal with traders

LONDON, Feb 25 (Reuters) - Russia’s Rosneft plans to cut volumes of crude it sells through its biggest six-month tender by almost a third, traders said on Monday, as the state oil major prepares to clinch an oil-for-loans deal with traders Glencore and Vitol.

Trading sources told Reuters on Monday Rosneft issued its regular six-month crude sell tender offering a maximum of 10.6 million tonnes of oil, down 4.8 million from the previous tender.

Rosneft is seeking to borrow up to $10 billion from Glencore and Vitol, using future oil exports as collateral, to complete its purchase of TNK-BP and become the world’s biggest listed oil producer. (Reporting by Dmitry Zhdannikov; editing by James Jukwey)

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