12/30/2023 0 Comments Vostok oil trafigura![]() ![]() However, Trafigura also planned to sell its stake in the Indian company. In addition, Trafigura, as part of a a consortium with Rosneft and UCP Trafigura, owns the Indian company Nayara Energy Limited (formerly Essar Oil), which owns a refinery with a throughput capacity of 20 million tonnes with a refining depth of 95.5%. Trafigura is a long-standing partner of Rosneft, carrying out trading activities with the Russian company's oil. The remaining 85% of Vostok Oil is owned by Rosneft's subsidiary, RN-Trade LLC. (75% - Vitol, 25% - MME) for 3.5 billion euros - tis is owned by Amur Investments. In addition, the Russian company sold 5% of the project to a consortium of Vitol S.A. Rosneft has promised to ship 30 million tonnes of oil from Vostok Oil via the Northern Sea Route in 2024.Ī 10% stake in Vostok Oil is owned by Swiss-based CB Enterprises Sarl - the stake is owned by Trafigura and was purchased from Rosneft in 2020 for 7 billion euros. The potential for the production of liquid hydrocarbons could reach 115 million tonnes per year, and the company estimates the resource base at over 6 billion tonnes of liquid hydrocarbons. The areas comprise the Vankor, Suzun, Tagul, and Lodochnoye fields, as well as the new fields of Payakha, with reserves of more than 1 billion tonnes of oil, and Zapadno-Irkinskoye, with reserves of 0.5 billion tonnes oil. Rosneft began largescale development of fields in Taimyr as part of the Vostok Oil project in 2020, including the assets of 52 licensed areas in the north of the Krasnoyarsk Territory. Global supply chains remain disrupted and the geopolitical situation will continue to be turbulent," Trafigura said. "Looking ahead, we see no let-up in the challenging market conditions. In addition, the Group froze its investments in Russia and announced a review of its 10% non-operational, passive shareholding in Vostok Oil, with the intention of exiting," the trader said. "Trafigura will continue to comply in full with all applicable subsequent sanctions packages. "The Group ceased all trading of crude oil with sanctioned Russian organisations in advance of the European Union and Swiss sanctions taking effect on, while substantially reducing the volume of oil products from sanctioned Russian organisations to solely supply essential fuels required by European customers," the company said in a statement. June 10 (Interfax) - Swiss trader Trafigura intends to withdraw from the Vostok Oil project in Russia. Presenting Russian President Vladimir Putin with a flask of the crude produced at one of the Vostok Oil wells last year, Sechin said it’s “even better than in the Middle East.MOSCOW. But Rosneft is pressing on with the Vostok project. ![]() Production in environmentally fragile regions like the Arctic are becoming more controversial as controlling climate change becomes more urgent. That compares with Russia’s total crude oil and condensate production of 513 million tons for 2020. At its peak, the remote development is set to produce as much as 100 million tons per year. ![]() ![]() The project envisions output of some 25 million tons of oil annually, or around 500,000 barrels a day, in 2024, and twice as much in 2027. The stake was valued at 7 billion euros (about 8.5 billion at the exchange rate of the time) in the deal, out of which Trafigura contributed 1.5 billion euros (1.8 billion) of. Article contentįor the traders, Vostok Oil offers access to Asian markets through the Arctic Northern Sea Route, a much shorter passage to Asian markets compared with the Suez Canal, Citigroup Inc. Trafigura bought a 10 stake in Vostok Oil, a vast project controlled by Rosneft PJSC, in December last year, but details of the deal have only gradually become public. This advertisement has not loaded yet, but your article continues below. ![]()
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