Rosneft Approves $273M Worth of Oil Shipments to BP

By MarEx 2014-02-11 10:46:00

The board of Russia's top oil producer Rosneft has approved deals to supply BP with crude oil and fuel oil worth up to $273 million, Rosneft said in a regulatory filing.

Rosneft has increased direct supplies of crude oil and oil products to BP after it bought BP's Russian venture TNK-BP for $55 billion last year, and the British major ended up with 19.75 percent ownership of the Russian leading oil producer.

Rosneft said that it would supply BP Oil International Ltd with up to 270,000 tons of fuel oil on a free-on-board (FOB) basis for any Black Sea port.

It would also ship up to 100,000 tonnes of crude oil to BP Singapore PTE Ltd on the Pacific port of Kozmino FOB basis.

Rosneft declined to reveal the supplies timetable.

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