BP, Shell win Rosneft spot Oct tender - traders

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Sep 2009

Russian state oil major Rosneft has sold seven 100,000-tonne Urals crude URL-NWE-E cargoes from the Baltic Sea port of Primorsk for loading in October to BP and Shell, traders said. Markets sources said cargoes were likely placed at around Dated flat.
The high number of spot tenders is due to the fact that many of Rosneft's export obligations under export-financed loans, known as R-trade, have come into force.
Rosneft has borrowed billions of dollars from Western banks in the last few years and put up its crude exports as collateral. But it has agreed with banks and short-listed traders that, under some deals, physical supplies would not begin until 2009.
Rosneft also sells crude via six-month Urals crude tenders. The last six-month tender for October 2009 - March 2010 was won by Total and Gunvor. [ID:nLE109571]
Following is a table of Rosneft October tender winners:
Oct 10-11 Urals Shell
Oct 11-12 Urals Shell
Oct 11-12 Urals BP
Oct 13-14 Urals BP
Oct 15-16 Urals BP
Oct 16-17 Urals BP
Oct 17-18 Urals BP

Source: Reuters