Russia's Rosneft Tenders Marine Fuel Cargos in Euros

Posted by Michelle Howard
Monday, August 26, 2019

Top Russian oil producer Rosneft has put up marine fuel cargos for sale with the euro as the default currency, a tender document showed on Monday, in line with its plan to sell oil products in the single currency instead of the U.S. dollar.

Rosneft said it had tendered to sell up to 70,000 tonnes of low-viscosity marine fuel with sulphur content of up to 1% from its oil refineries with delivery between Sept. 1 and Oct. 31 on a freight-on-board (FOB) Black Sea basis or FOB St Petersburg, or Carriage Paid To (CPT) any port/Russian border.

The decision to switch to the euro as its settlement currency is likely to be seen as an attempt to offset any negative impact of U.S. sanctions on Russia.

Last week, five trading sources told Reuters that Rosneft had notified customers that future tender contracts for oil products would be denominated in euros. 

(Reporting by Natalia Chumakova; writing by Vladimir Soldatkin; Editing by Dale Hudson)

Categories: Fuels

Related Stories

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Sapura Energy Rebrands to Vantris Energy

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com