Baku, Azerbaijan, June 6
By Maksim Tsurkov - Trend:
Ukrtransnafta PJSC, operator of the oil transportation system of Ukraine, put up 10,000 tons of Azerbaijani oil of the Azeri Light grade for electronic trading on the website of the Ukrainian Energy Exchange in the mode of differentials trading for June 7, says a message of the Exchange.
Oil is offered from the tanks of the Yujhniy terminal. The proposed volume is divided into two lots of 5,000 tons each.
The price will be estimated under the Platts quotes for Azeri Lt FOB 80KT minus the cost of transshipment using the country-product-dummy (CPD) method ($1 per ton). Oil transfer will be carried out under a 100 percent advance payment from June 19 to 25.
In the second half of 2017, Ukrtransnafta successfully sold 42,800 tons of Azeri Light at the exchange trades. Of this volume, UkrGasVydobuvannya JSC bought 10,800 tons.
Last year, Ukrtransnafta resumed operation of the oil pipeline from Odessa to Kremenchug and started transportation of Azeri Light to the Kremenchug refinery.
The Kremenchug refinery has been processing the Azeri Light oil since December 2016.
The Azeri Light grade oil is produced at the Azeri-Chirag-Gunashli block of fields in Azerbaijan.
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