LONDON, March 3 Vitol, the world's biggest oil
trader, is in talks to lend Russian state-controlled oil company
Rosneft $2 billion in exchange for supplies of refined
products, the Financial Times reported on Monday.
Rosneft, Russia's top crude producer, last March signed a
long-term supply contract with Vitol and commodity
trader Glencore International to supply them up to 67
million tonnes of crude in exchange for a $10 billion
Vitol is currently in talks to lend Rosneft an additional $2
billion in exchange for refined products over the next five
years, according to the report.
Rosneft has rapidly expanded its trade in refined products
in recent year. Last December, Rosneft agreed to buy much of
Morgan Stanley's physical oil-trading business.
(Reporting by Ron Bousso; editing by Jane Baird)