Tuesday, December 12, 2017

Surgut Awards Gunvor With Up to 1.0 mln T of Gasoline From Ust-Luga-trade

Posted by March 9, 2017

Russia's Surgutneftegaz has sold Gunvor an up to 1.0 million tonnes of normal gasoline (motor gasoline A-76) from its Kirishi refinery at a tender, to be delivered in April-December from the Baltic Sea port of Ust-Luga, traders said.

Market sources estimated the discount level stronger than minus $45 a tonne. Surgut's pricing formula is based on the mean of the five mean consecutive quotations of Eurobob, NWE barges FOB Rotterdam, after the bill of lading, Reuters sources said.

Surgut sold gasoline on a FOB Ust-Luga basis via trading firm Surgutex with cargo lots varying from 30,000 to 40,000 tonnes.

The winner of the tender and discount to price formula could not be immediately confirmed as sellers and buyers do not comment on their deals.

Previously, Surgut also sold via tenders an up to 3 million tonnes of ultra-low sulphur diesel from the Baltic Sea port of Primorsk and up to 4.1 million tonnes of fuel from the Ust-Luga port for January-June 2017 delivery.

(Reporting by Natalia Chumakova)

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