LUKoil Trades in Fuel Oil

By The Moscow Times

May 19, 2011

LUKoil has bought its first ever Saudi fuel oil cargo, traders said Thursday.

LUKoil is starting fuel-oil trading in the Middle East, and the Saudi purchase comes less than a week after it won a tender to supply a 65,000-ton high-sulfur fuel-oil cargo to Pakistan State Oil.

Litasco also booked the Vega Star supertanker to sail to Singapore from Rotterdam next month, according to reports from five shipbrokers.

The ship, which can carry 2 million barrels of oil, was chartered for June 8 at a cost of $3.85 million, according to reports Wednesday including from Athens-based Optima Shipbrokers. One of the brokers said the tanker was carrying fuel oil.

(Reuters, Bloomberg)

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