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SK Innovation, Vitol Said to Buy Sokol Crude Cargoes for June

April 12 (Bloomberg) -- South Korea’s SK Innovation Co. and Vitol Group bought one cargo each of Russia’s Sokol crude for June, said six traders who participate in the market, declining to be identified because they aren’t authorized to speak to the media.

ONGC Videsh Ltd., the overseas unit of India’s largest oil explorer, sold a shipment for June 24 to June 27 to SK Innovation, said two of the traders.

OAO Rosneft sold its cargo for June 9 to June 19 to Vitol, said four traders.

The cargoes sold at premiums of more than $7 a barrel to benchmark Dubai and Oman crude, said two of the traders.

The details of the trades are as follows:

-------------------------------------------------------------
Crude:         Sokol (Russia)
Price:         Premium of more than $7 a barrel above average of
               Platts Dubai and Oman, including cost and
               freight (C.F.R.)
Buyer:         SK Innovation
Quantity:      700,000 barrels
Period:        June 24 to June 27
Seller:        ONGC Videsh
-------------------------------------------------------------
Crude:         Sokol (Russia)
Price:         Premium of more than $7 a barrel above average of
               Platts Dubai and Oman, including cost and
               freight (C.F.R.)
Buyer:         Vitol
Quantity:      95,000 tons
Period:        June 9 to June 19
Seller:        Rosneft
--------------------------------------------------------------

To contact the reporters on this story: Pratish Narayanan in Mumbai at pnarayanan9@bloomberg.net; Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

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

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