"Ukrtransnafta" puts on exchange another batch of Azerbaijani oil
Baku, Azerbaijan, June 12
By Maksim Tsurkov – Trend:
PJSC "Ukrtransnafta" (operator of the oil transportation system of Ukraine) has put on June 12 another 10,000 tons of Azerbaijani oil of the Azeri Light grade on electronic trading at the website of the "Ukrainian energy exchange", the exchange said in a statement.
The oil is offered from the tanks of the "Yujniy" sea oil terminal. The proposed volume is divided into two lots of 5,000 tons each. The price will be determined by the quotes Azeri Lt FOB 80KT Agency Platts minus the cost of transshipment calculated by Country-Product-Dummy (CPD) method (one dollar per ton). Oil transfer will be carried out on a 100 percent advance payment from June 27 to July 7.
At the previous auction, all exhibited 10,000 tons of oil was purchased by the "Privat" Group of Companies for processing at the Kremenchug refinery.
In the second half of 2017, Ukrtransnafta successfully sold at the exchange trading 42,800 tons of Azeri Light oil, not involved in the operation of the oil transportation system. From this volume "Ukrgasvydobuvannya" JSC purchased 10,800 tons.
Last year, Ukrtransnafta resumed operation of the section of the oil pipeline from Odessa to Kremenchug and launched transportation of Azeri Light oil to the Kremenchug refinery.
Kremenchug refinery has been processing Azeri Light oil since December 2016, but earlier oil was supplied to the plant by rail.
The oil of Azeri Light grade is produced at Azeri-Chirag-Guneshli block of fields in Azerbaijan. Azerbaijan produced seven million tons of light oil in 1Q2018, which roughly corresponds to the level of production at the block in the first quarter of last year.
"Ukrtransnafta" PJSC is the operator of the oil transportation system of Ukraine.
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