Russian Surgutneftegaz awards Mar ESPO tender at $6.50/bbl premium

22 January 2014 09:44 Source:ICIS News

SINGAPORE (ICIS)--Russian oil producer Surgutneftegaz has awarded a tender offering two 730,000-barrel cargoes of March Eastern Siberia Pipeline Oil (ESPO) Blend crude at a stronger premium, market sources said on Wednesday.

The free-on-board (FOB) Kozmino cargoes were awarded at around Dubai quotes plus $6.50/bbl, they said.

Surgutneftegaz awarded one ESPO Blend cargo for loading on 1-7 March to PetroDiamond, while a second cargo for loading on 6-12 March was placed with a Japanese refiner, sources said.

Previously, Surgutneftegaz, awarded a tender which offered four February ESPO Blend cargoes, at around Dubai quotes plus $5.50-6.50/bbl.

ESPO Blend is a medium crude with an API of 34.5 and a sulphur content of 0.60% originating from Russia’s Siberian oilfields and delivered by pipeline to the Russian Pacific coast port of Kozmino.

By James Dennis