Report: Rosneft to prepay $1 bln for oil from Iraqi Kurdistan

MOSCOW, Apr 6 (PRIME) -- Russian oil major Rosneft's prepayment liabilities for oil bought from Iraqi Kurdistan amount to about U.S. $1 billion, Bloomberg reported on Thursday citing sources familiar with the matter.

A Rosneft representative told PRIME that the first batch of 600,000 barrels of oil will be sent from Iraqi Kurdistan to oil refineries in Germany this week. The crude will be refined in Germany and later in India, the representative said.

Rosneft signed the oil purchase contract with the Kurdistan Regional Government in February, under which Rosneft’s affiliate Rosneft Trading SA will buy oil for refineries of the company outside Russia in 2017–2019. The amount of oil and the value of the deal were not disclosed.

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