Rosneft approves $273 million worth of oil shipments to BP

MOSCOW Tue Feb 11, 2014 5:56am GMT

The company logo of Rosneft is seen outside a service station in Moscow November 12, 2013. REUTERS/Maxim Shemetov

The company logo of Rosneft is seen outside a service station in Moscow November 12, 2013.

Credit: Reuters/Maxim Shemetov

Related Topics

Quotes

   

MOSCOW (Reuters) - 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 tonnes 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.

(Reporting by Vladimir Soldatkin; Additional reporting by Natalya Chumakova; Editing by Ken Wills)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.