Azerbaijan, Baku, June 25 / Trend /
LUKoil believes it is necessary to apply quality bank for oil in the Russian territory, LUKoil director Vagit Alekperpov said in his interview with Interfax.
"We believe that quality bank must be applied. The sooner we apply it, the more we will encourage oil producers to control quality of their oil and we will sell our oil at higher prices," Alekperov said.
Alekperov said there two internationally recognized brands of oil in Russia - Siberian Light and Urals. Quality bank does not depend on brand, but quality of oil. "It can not have brand. The important is the content of heavy fraction,' Alekperov said.
"Quality bank is a shift from a weight measurement of oil to that of volume. All of our meters are meant for volume. In other words, we can now easily go to the specific weight: not in tons but in cubic meters. A volume gives an opportunity to find out who delivers more light oil, he gets more volume and who delivers more heavy, he gets less. This is calculated automatically. That is easy. The whole is working so except us," Alekperov said.