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Transneft to resume oil exports from Novorossiisk

November 22/2017

MOSCOW (MRC) -- Oil loadings from the Russian Black Sea port of Novorossiisk were set to resume later on Tuesday after a storm in area subsided in the early hours of the day, reported Reuters with reference to oil pipeline monopoly Transneft's statement.

All other oil exporting ports in Russia were working according to schedule, it added.

As MRC informed previously, Russian pipeline monopoly Transneft is buying a stake in the oil terminal at the Baltic Sea port of Ust-Luga from businessman Andrei Bokarev. Transneft-Baltica's request to buy a 25% plus one share stake in terminal was approved by the Federal Antimonopoly service in H2 October 2017. The terminal, launched in 2015, has a capacity of 30 MMt of oil products per year. Bokarev owns 74% and oil trader Gunvor holds the remainder. Transneft confirmed that it was buying the stake in the terminal but did not disclose the seller or price. Gunvor built the terminal and sold a 74 percent stake in the terminal to Bokarev in 2015. Analysts at the time estimated the value of Gunvor's deal with Bokarev at USD1.9 BЦUSD2.2 B at current exchange rates.


mrcplast.com
Author:Margaret Volkova
Tags:crude and gaz condensate, Transneft, Russia.
Category:General News
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