Rosneft finished allocating its May seaborne crude cargoes last week. Market participants say the process took longer than expected—despite the fact that Rosneft will load fewer seaborne cargoes than it did during April—because negotiations over loading dates with buyers dragged on. The state-controlled firm will reduce seaborne exports by 550,000t from April to 4.6mn t this month after main-tenance drew to a close at a number of its refineries and runs started to rise again at its 240,000 b/d Tuapse plant. The company will also boost sales in Russia this month.
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