Rosneft to sell diesel to BP for $1.9bn

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BP

Reuters.

Moscow - Russia's top crude producer Rosneft is to sell up to 1.8 million tonnes of ultra low-sulphur diesel to BP from the Baltic Sea port of Primorsk for up to $1.9 billion, it said on Tuesday.

Rosneft, in a regulatory filing which said its board had approved the deal, did not disclose the timeframe for supplies.

It will also sell 400,000 tonnes of crude oil from the Pacific port of Kozmino to BP Singapore with a combined price tag of up to $345 million, Rosneft added.

Earlier this year, Rosneft revealed deals worth more than $11 billion to sell its crude oil and products to BP, which owns almost 20 percent in the state-controlled oil company.

BP became Rosneft's second-largest shareholder, behind only the Kremlin, after Rosneft took over BP's Russian venture TNK-BP for $55 billion in March.

But participation in Rosneft's ownership has been slow to translate into cooperation in upstream projects, while Exxon Mobil has signed a flurry of deals with Rosneft to tap the Russian Arctic together. - Reuters


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