Home / Commodities / Freight News / Russia’s Surgutneftegaz sells March-loading ESPO cargoes

Russia’s Surgutneftegaz sells March-loading ESPO cargoes

Russia’s Surgutneftegaz has sold five ESPO crude cargoes loading in March at lower premiums than its previous deal after price benchmark Dubai became relatively more expensive than Brent, multiple trade sources said.

Surgut sold the cargoes at $2.70 to $2.90 a barrel above Dubai quotes, they said. Surgut offered cargoes for loading from March 8 to 12, 12 to 16, 16 to 20, 22 to 26 and 27 to 31.

Buyers include Vitol, BP, Equinor, Lukoil and Unipec, the sources said.

Surgut last sold March-loading ESPO at premiums of about $3.20 a barrel.

Separately, Paramount Energy also sold its remaining four cargoes loading in March at similar premiums to Surgut’s latest tender, said two sources familiar with the matter. The cargoes are for loading from March 10 to 16, 14 to 20, 20 to 27 and 24 to 31.
Source: Reuters (Reporting by Olga Yagova in MOSCOW and Florence Tan in SINGAPORE; editing by Christian Schmollinger)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping