Trafigura says intends to exit Rosneft’s Vostok Oil project

MOSCOW, Jun 10 (PRIME) -- Singapore-based commodity trader Trafigura Group plans to leave Vostok Oil, a joint project with Russian oil major Rosneft, Trafigura said in a report released on Friday.

“The Group froze its investments in Russia and announced a review of its 10% non-operational, passive shareholding in Vostok Oil, with the intention of exiting,” Trafigura said.

The company also said that it ceased all trading of crude oil with sanctioned Russian organizations and reduced the volume of oil products from them “to solely supply essential fuels required by European customers.” “Trafigura will continue to comply in full with all applicable subsequent sanctions packages,” the company said.

Trafigura bought the 10% stake in the project in 2020. The sum of the deal was estimated at 7 billion euros.

Vostok Oil comprises the largest fields of the Vankor cluster – the Vankor, Suzunskoye, Tagulskoye, and Lodochnoye, as well as the promising oil sites in the north of the Krasnoyarsk Region such as the Payakha group of fields owned by Eduard Khudainatov’s Neftegazholding, and the Zapadno-Irkinsky block.

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