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Tuesday, September 25, 2018

Russian oil to US strategic reserves- Nefte Compass

Russia’s third largest oil producer, Tyumen Oil Co., has delivered 140,000 tonnes of crude oil to the US, as a move to test new markets. Lukoil and Yukos exported oil to Asia and the US this summer. Tyumen exported the oil in the tanker Glen Buck from Primorsk on the Baltic Sea in mid-September, which arrived in the US on 12 October. The other lot was exported in the tanker Front Sky, which loaded at the Black Sea port of Novorossiysk at the end of September and arrived in the US around 21 October. Under the deal, US-based Koch Supply and Trading is to send 40,000 tons (293,200 barrels) of the volume to the US Strategic Petroleum reserve. The rest will go to the Koch-operated Corpus Christi refinery in Texas.

President Simon Kukes says that Russian crude oil to the US could amount to 0.4 mbd by the end of 2003. Koch is currently one of the most active transporters of Russian crude to the US.