Ukrtransnafta sold Azerbaijani oil purchased in spring 2020

Ukrtransnafta JSC has signed contracts for the sale of Azeri Light oil, purchased in April 2020 from SOCAR Trading, and accepted at the Pivdennyi Sea Oil Terminal of Ukrtransnafta JSC, the press service reports.

It is noted that the buyer of 80 thousand tons of oil was BNK (UK) Limited (Great Britain), a subsidiary of the Belarusian Oil Company. The sale was carried out on ITT terms, the tank farm of the Pivdennyi offshore oil terminal, with further transportation of oil by pipeline from the terminal to the Mozyr refinery.

Trafigura Pte Ltd (Singapore) became the buyer of another 90 thousand tons of the resource with subsequent shipment on FOB SOT Pivdennyi terms.

Also, Ukrtransnafta sold 10 thousand tons of oil stock through exchange trading on the Ukrainian Energy Exchange site, with the delivery on EXW terms of the LPDS Kremenchuk tank farm (Ukrtransnafta oil pumping station). Ukrgazvydobuvannya JSC became the winner of the auction.

The sale of oil is carried out based on decisions of the shareholder – NJSC Naftogaz of Ukraine, with the establishment of the oil price according to the formula approach concerning the Platts agency's quotations.

Earlier it was reported that Ukrtransnafta would commission a section of the Druzhba oil pipeline built 10 years ago.