Baku, Azerbaijan, Sept. 12
By Maksim Tsurkov – Trend:
Ukrtransnafta PJSC, operator of Ukraine’s oil transportation system, put up 12,000 tons of Azerbaijan’s Light oil for sale via the e-auction system of the Ukraine Energy Exchange (UEEX), a source in Azerbaijan’s state oil company SOCAR told Trend Sept. 12.
The e-auction will take place in a differential trading mode. This is the third e-auction where Ukrtransnafta puts up Azerbaijani oil for sale. Previously, cargos of 5,000 tons and 12,000 tons were sold.
“Azeri Light oil is expected to be fully sold at today’s auction,” the source said.
The volume is divided into two lots: 2,000 tons and 10,000 tons. Oil is sold under FCA terms from the Kagamlykskaya railway station (Kremenchug refinery) with a 100-percent prepayment.
Starting price is calculated on the basis of average quotation for Azeri Light (Azeri Lt FOB 80 KT) in accordance with Platts data for 15 days. Oil will be shipped from September 20 to October 20.
Ukrtransnafta resumed the operation of an oil pipeline from Odessa to Kremenchug on March 10 and started the transportation of Azeri Light to the Kremenchug refinery. An agreement signed in late 2016 between Ukrtransnafta and SOCAR envisages the transportation of at least 1.3 million tons of Azeri Light to the Kremenchug refinery in 2017.
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