Metals and mining, Vitol
Trader will provide the company with prepayment in hard currency.
The Swiss trader Trafigura, who from April, according to unofficial data, will buy about 1 million tons of oil per month from the oil company, can become the largest trader of "Rosneft". According to "the Kommersant", the contract provides for advance payments, and under normal conditions for such contracts "Rosneft" can get almost $ 1 billion from the trader for the next six months. Cut out due to the sanctions from Western funding "Rosneft" needs funds to pay for off its debts.
The Swiss trader Trafigura is in talks with "Rosneft" to increase its purchases of crude oil from the oil company. According to Reuters, in April trader will start to export more than 1 million tons of "Rosneft" oil a month - nearly six times more than what Trafigura buys now. A source of "the Kommersant" in the market confirms this information, but adds that currently the contract is not concluded, the negotiations continue and the final volume of deliveries for the trader and delivery terms are not defined. "Rosneft" and Trafigura do not comment on the situation.
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“Rosneft” will get a recurring advance in the amount of $10 billion from “Glencore” and “Vitol”, Rosneft’s presiden,t I.Sechin said.
“This week we have announced about a conclusion of an unprecedented deal with “Glencore” and “Vitol”. Within the frame of the settlement Rosneft will get a recurring advance at $10 billion,” Sechin said.
Translated by Iraida Idiyatova Read more »