TNK-BP Said to Sell ESPO Oil to JX Nippon at $3.40-$3.75 Premium

TNK-BP (TNBP), the Russian oil producer part-owned by BP Plc (BP/), sold a cargo of East Siberia-Pacific Ocean crude loading in early-August to Japan’s JX Nippon Oil & Energy Corp., said four traders who participate in the market, asking not to be identified because the information is confidential.

JX Nippon paid a premium of $3.40 to $3.75 a barrel above benchmark Dubai oil, according to the traders.

Details of the deal are as follows:

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Crude:        ESPO (Russia)
Price:        Premium of $3.40 to $3.75 a barrel to Platts Dubai
Loading:      Aug. 6 to Aug. 10
Buyer:        JX Nippon
Seller:       TNK-BP
Quantity:     100,000 tons (730,000 barrels)
Port:         Kozmino Terminal, Russia’s Far East
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To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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