21 December 2012 07:05 [Source: ICIS news]
SINGAPORE (ICIS)--Russia’s Rosneft plans to almost triple its Group I base oils supply to China month on month to 19,000 tonnes in January 2013, a Chinese trader said on Friday.
The company has decided to combine the exports for the first two months of 2013 into just one month of supply in January and will thus open just one bidding round, considering a long holiday in January, the trader explained.
The company also raised its base oils exports to China in view of weak demand in Russia and Europe, the trader said.
Moreover, export shipments, which are normally destined for the European market, were affected during the extremely cold weather in Russia in December, the trader added.
The planned shipments will consist of 11,900 tonnes of low-viscosity products and 7,100 tonnes of high-viscosity grades, which are all produced at the company’s 250,000 tonne/year Group I base oil plant at Angarsk in Russia, the trader added.
Rosneft exported a total of 6,800 tonnes of Group I base oils to China in December, flat from a month before.
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