Russia’s Rosneft to increase base oil exports to China in July

02 July 2013 07:58  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft plans to supply 9,000 tonnes of Group I base oils to China in July, up by almost four times its June volumes, a Chinese importer said on Tuesday.

Rosneft is able to increase its base oil exports, because its 250,000 tonne/year Group I base oil plant at Angarsk in Russia has resumed operations after a one-month turnaround was completed in June, the importer explained.

The producer exported 2,500 tonnes of low-viscosity N150 base oils to China in June because its plant was shut for maintenance.

Rosneft typically supplies 9,000-11,000 tonnes of Group I base oils every month to China on average, according to data compiled by ICIS C1 Energy.

The exports consist of 5,800 tonnes of low-viscosity base oils and 3,200 tonnes of high-viscosity grades, the importer said.

Meanwhile, prices for July-delivered exports has increased because of firm demand for certain grades in China, the importer said.

Low-viscosity base oils were traded at $910-950/tonne (€700-731/tonne) DAF (delivered at frontier) Erenhot in July, up by $10-50/tonne from a month ago, the importer said.

Prices for high-viscosity grades rose by $30/tonne to $970-1,050/tonne, the importer added.

Rosneft exported 2,500 tonnes of high-viscosity Group I base oils to China in June and they were traded at $900/tonne DAF Erenhot.

($1 = €0.77)

By: Whitney Shi
+65 6780 4359

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