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NK Rosneft' OAO Announces New $6 Billion Oil Supply Deals with BP-Reuters


Monday, 11 Nov 2013 10:39pm EST 

Reuters reported that NK Rosneft' OAO (Rosneft) said it had agreed to sell oil product cargoes to BP worth over $6 billion, on top of a previous deal to sell oil worth $5.3 billion. The Russian state-owned company said in a filing that it would sell up to 3.2 million tonnes of fuel oil to BP Singapore for up to $2.6 billion from the Far East ports of Nakhodka or Vanino in Nov 2013-Dec 2014 with a possibility to lift it in 2015. Rosneft will also sell up to 1.44 million tonnes of diesel to BP for up to $1.77 billion from the Black Sea port of Tuapse. Russia's top crude producer would sell up to 2 million tonnes of fuel oil to BP for up to $1.62 billion from the Baltic port of Ust-Luga and up to 60,000 tonnes of naphtha for up to $65 million from Tuapse. BP is a related party of Rosneft. It raised its stake in Rosneft to nearly 20% as part of Rosneft's $55 billion takeover of TNK-BP that was completed in March of this year.