The crude oil prices of Russia ESPO Blend from Kozmino have increased by 3.3 million tonnes for May, a record monthly high expected to be loaded from the port, according to the April schedule.

According to Reuters estimates, oil loadings for ESPO Blend will increase about 3% daily.
Record loadings planned for May is yet another issue for Russian oil sellers, who are struggling to place their volumes as a result of Western sanctions on Moscow allowing many regular purchasers to turn away from the market.

Sanctions do not aimed at Russia’s energy trade directly, but issues with payments, insurance, and shipping have prompted concern among buyers.

The ESPO Blend trading cycle for May volumes has begun slowly, with many cargoes still on offer. This time, almost all cargoes would be sold. This time, pricing disputes between sellers and buyers have kept trading sluggish and deals under wraps.

Russia intends to boost its oil exports as it avoids losing oil storage and keeps Transneft’s pipeline transportation system running smoothly.

According to a document, Rosneft will load 11 cargoes of 100,000 tonnes each from Kozmino in May, including Surgutneftegaz, nine cargoes, small producers, nine cargoes, and Gazpromneft. Four cargoes. Lukoil has no oil cargoes in May.

ESPO Blend, a Russian company, is the state’s flagship crude from the East Siberia Pacific Ocean (ESPO) pipeline to Asian markets. China buys the grade via inland pipelines under long-term contracts as well as seaborne volumes on spot basis.
Source: Reuters