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NK Rosneft' OAO to Sell $5.3 Billion Worth of Oil to BP-Reuters


Friday, 4 Oct 2013 04:06am EDT 

Reuters reported that NK Rosneft' OAO (Rosneft) has agreed to sell Urals crude and fuel oil cargoes to BP worth around $5.3 billion, without disclosing the timeframe for the deals. The Russian state-owned company said in a regulatory filing that it would supply BP with up to 3 million tons of Urals, worth $2.4 billion, from the Baltic Sea port of Primorsk and 1.68 million tons of Urals, worth $1.3 billion, from the Black Sea port of Novorossiisk. It also said that BP will receive up to 840,000 tons of fuel oil, worth $620 million, from Tuapse at the Black Sea, while BP Singapore will handle up to 1.1 million tons of fuel oil worth up to $920 million from the Pacific port of Nakhodka.