Russia’s Rosneft to double base oils supply to China in November

22 October 2012 05:16  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft plans to double its Group I base oils supply to China to 6,960 tonnes in November, as the company has restarted its Angarsk plant in mid-October, a Chinese trader said on Monday.

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

The planned shipments will consist of 4,040 tonnes of low-viscosity products and 2,920 tonnes of high-viscosity materials, the trader said.

Offers from the company are expected to drop for November cargoes amid falling demand for Group I grades in the Chinese market from the beginning of October, said major traders of Russian oils in China.

Rosneft has exported an estimated total of 3,410 tonnes of Group I base oils to China in October. The company offered the October cargoes at $970-980/tonne (€747-755/tonne) DAF (delivered at frontier) Erenhot for low-viscosity base oils and at $1,030-1,060/tonne for high-viscosity volumes respectively.

($1 = €0.77)

By: Whitney Shi
+65 6780 4359

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