Russia Plans to Cut October ESPO Crude Cargoes to 17 Via Kozmino
Russia will export 17 cargoes of East Siberia-Pacific Ocean, or ESPO, crude from the Pacific port of Kozmino in October, one less than in September.
Kozmino will load 1.7 million metric tons, or about 402,000 barrels a day, of ESPO blend, according to a loading program obtained by Bloomberg News. Two of the shipments, which are in lots of 100,000 tons each, will be transported by rail from Skovorodino and the rest through a pipeline. Daily shipments will fall 8.6 percent from the September level.
The ESPO link starts at fields in East Siberia. A second phase of the project completed in December expanded the pipeline’s capacity and extended it to the Pacific coast at Kozmino, reducing the need for rail shipments.
The October program includes a 100,000-ton rail consignment for loading Oct. 30 to Nov. 2 and a partial rail cargo of 32,000 tons to be topped up at Kozmino in November.
OAO Rosneft and OAO Surgutneftegas will each export six of the October consignments, OAO Lukoil and OAO Gazprom Neft will ship one cargo each, and the remaining three are earmarked for smaller producers.
Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.
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