MOSCOW: Rosneft said on Friday it has agreed to sell Urals crude and fuel oil cargoes to BP worth around $5.3 billion, without disclosing the timeframe for the deals.
The Russian state-owned company said in a regulatory filing that it would supply BP with up to 3 million tonnes of Urals, worth $2.4 billion, from the Baltic Sea port of Primorsk and 1.68 mln tonnes of Urals, worth $1.3 billion, from the Black Sea port of Novorossiisk.
It also said that BP will receive up to 840,000 tonnes of fuel oil, worth $620 million, from Tuapse at the Black Sea, while BP Singapore will handle up to 1.1 million tonnes of fuel oil worth up to $920 million from the Pacific port of Nakhodka.
Last week, trade sources told Reuters that BP was working on becoming the first oil major with a long-term deal to buy seaborne crude from Rosneft, after a number of trading houses this year secured large volumes from the Kremlin energy champion.
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