Shell Wins Bulk of Rosneft Jumbo Urals Tender -Trade
PHOTO: The Rosneft headquarters next to the Saint Sophia Church on the bank of the Moskva River.
The absence of Swiss-based Gunvor, once dubbed the king of Kremlin oil, was noticeable once again after it came away from a large Rosneft tender empty handed. In September, it also failed to secure any volumes.
Rosneft has cut volumes of crude it sells through its biggest six-month tender by a third, to 10.6 million tonnes, after it clinched an oil-for-loans deal with traders Glencore and Vitol.
Traders said Shell won all cargoes, totalling up to 7 million tonnes, to be shipped from the Baltic Sea ports of Ust-Luga and Primorsk.
Shell and Eni will handle Urals parcels of 140,000 tonnes each from the Black Sea port of Novorossiisk with total volumes of up to 1.7 million tonnes.
Vitol won the right to ship Urals crude cargoes of 80,000 tonnes each with total volumes of up to 1.9 million tonnes to be shipped from Novorossiisk, traders said.
Rosneft was offering to sell 0.6-2.0 million tonnes from the port of Ust-Luga and 1.8-5.0 million tonnes from Primorsk, both in the Baltic.
From the port of Novorossiisk, it was offering 0.96-1.92 million tonnes in 80,000-tonne tankers and 0.84-1.68 million tonnes in 140,000-tonne tankers.
In the previous tender, Glencore and Vitol secured most of the volumes.
(c) Thompson Reuters