Russia's Bashneft to sell oil products worth US$ 5.2 billion
Published by David Bizley,
Senior Editor
Oilfield Technology,
Russian mid-sized oil producer Bashneft said in a regulatory filing on 29 July that it has secured deals to sell oil products worth US$ 5.2 billion to international traders as it boosts its own trading business.
The company, controlled by oil-to-telecoms conglomerate Sistema, said it would sell oil products to Vitol worth US$ 2.96 billion. In another deal, it would supply Demex Trading Ltd will refined oil products worth US$ 2.21 billion.
The deals are expected to be completed by Feb. 29, 2016. The company did not disclose the physical volumes of the oil products it has agreed to deliver.
Bashneft operates three major refineries in Russia's Bashkortostan region in the Ural mountains, which gives its name to Russia's key crude oil blend.
This story was produced by Reuters and is also available here.
Adapted by David Bizley
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/29072014/russia-bashneft-to-sell-oil-products-worth-usd-5-billion/
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