Rosneft, Gazpromneft and Lukoil to trade Kazakh oil

As compensation of lost revenues of the Russian budget Kazakhstan will about 2 million tons of oil supply to Russia in 2015. These volumes will be bought by Rosneft, Gazpromneft and Lukoil for swap supplies, including via ESPO. But the problems may occur in the eastern direction due to lack of throughput capacity in Kozmino, the RBC reports.
Moscow and Astana have been discussing the compensation of lost incomes of the Russian budget from duty-free supplies of Russian oil products in Kazakhstan in 2012-2013 for several years. The reached agreements were confirmed by a representative of the Ministry of Energy and deputy director of the Department of International Co-operation and Economic Integration of the Kazakh Ministry of Oil and Gas Sauk Nurmagambetov.

"Kazakhstan will pay Russia the compensation not with money, but crude oil in the amount of about 2 million tons. Raw materials will be delivered on “counter scheme” in 2015,"- he said.

These 2 million tons will be bought by Rosneft, Lukoil and Gazpromneft from the Russian Government (the volumes will be divided equally between them) at the previously agreed price, and then sell them for export. These companies were selected because they previously supplied fuel to the Pavlodar refinery in Kazakhstan. The companies will also pay duties on oil supplies in the east and west directions. That is, the treasury will receive a double benefit, and the oil companies will be able to increase the supply of oil to the premium destinations in Asia. The supply price wasn’t disclosed.