Metals and mining, Vitol

"Rosneft" places a bet on Trafigura.

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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New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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“Rosneft” to get a recurring advance at $10 billion from “Glencore” and “Vitol”

“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.

http://www.oilru.com/news/359700/

Translated by Iraida Idiyatova Read more »

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