Russian ESPO oil blend will be supplied to Vietnam

TNK-BP announces that, as part of its long-term cooperation with Vietnamese state corporation PetroVietnam, it has signed the contract to supply Russian ESPO crude oil blend to Vietnam. This is the first time ESPO crude oil blend will be delivered to Vietnam. The first 100,000 ton shipment under the new contract will take place in November 2010. The ESPO oil blend has been supplied via the East Siberia – Pacific Ocean (ESPO) pipeline and loaded for export in the port of Kozmino since January 2010.

According to the ‘Oil Pipeline Industry Magazine’, as of the beginning of September, 2010, some 26% of crude supplied from Kozmino were shipped to South Korea, another 26% were shipped to Japan, 14% to the USA, and 12% to Thailand. The rest was shipped to China (6%), Singapore (2%), Taiwan (2%), and Philippines (1%).

Sources: ZENA-Titas, Prime-Titas, Oil Pipeline Industry Magazine