May 9, 2019 / 5:00 PM / 2 months ago

Rosneft to boost oil exports from Pacific amid problems in Europe - trade

MOSCOW, May 9 (Reuters) - Russia’s Rosneft will load an extra crude oil cargo from the Pacific port of Kozmino on May 30-31 in addition to the initial loading plan, amid Russian oil export problems in Europe, three trading sources said on Thursday.

Overall exports from Kozmino will jump in May to an all-time high of 2.94 million tonnes, Reuters data showed. The move comes after Russian oil exports to Europe have been curtailed for more than two weeks due to quality issues.

Kozmino’s ESPO crude oil blend is traded more than a month upfront which means May cargoes had been already sold to buyers more than a month ago. The way the crude is sold makes late additions to the loading programmes from Kozmino very rare, traders said. (Reporting by Olga Yagova; Editing by Alexandra Hudson)

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