Russia’s Rosneft cuts Sept base oils supply to China by 68%

21 August 2012 08:53  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft plans to supply 4,000 tonnes of Group I base oils to China in September, a decline of about 68% from August, because of maintenance at its plant, a Chinese trader said on Tuesday.

The planned shipments will consist of 2,500 tonnes of low-viscosity products and 1,500 tonnes of high-viscosity materials, the trader said.

Rosneft wille export a total of 12,530 tonnes of Group I base oils to China in August.

The company is planning to shut its 250,000 tonne/year Group I base oils plant at Angarsk in Russia in late August for maintenance, according to the trader.

However, the actual schedule was not finalised yet.

Prices of Group I base oils are expected to firm in north China next month because of significant drops in imports, industry sources said.

Meanwhile, domestically produced supplies are likely to tighten, as Sinopec will save the majority base oils for captive use during the consumption peak in September, the sources added.

Sinopec is a major supplier of Group I base oils in north China.

By: Whitney Shi
+65 6780 4359

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