Rosneft sells May Sokol at highest in over 2 yrs

SINGAPORE: Top Russian oil producer Rosneft sold via tender a cargo of light sweet Sokol crude for loading in May at the highest premium in more than two years on strong distillate margins, traders said on Thursday.

The 700,000-barrel cargo was sold to US oil company Chevron at $9.70 a barrel above Dubai quotes, traders said.

Rosneft also awarded in the same tender a second Sokol cargo to Gunvor at a premium of $8.20 a barrel to Dubai quotes, although the deals could not be confirmed.

The cargoes will load on May 4-13 and May 26-June 4.

Last month, Rosneft sold 700,000 barrels of Sokol crude for April loading via tender at a steady premium from the previous month.