Rosneft has announced the results of a six-month tender to sell oil for export through the ports of Novorossiysk, Primorsk and Ust-Luga. Contracts to deliver up to 13.3 million tonnes were awarded to Glencore, Vitol and Shell. The tender process comprised two rounds, thanks to which Rosneft was able to maximise the benchmark pricing formula premium and boost export profitability for the benefit of its shareholders, which include the Russian government and 140,000 private investors.
Rosneft would like to thank BP, Marubeni, Total, Trafigura, Warly and all the other tender participants for making offers and looks forward to their participation in future tenders.