Rosneft Has Been Unable to Find Buyers for 37 Million Barrels

Leroy Carter -

Rosneft has been unable to find buyers for 37 million barrels (about 5 million tons) of Urals oil for delivery in May and June.

The Russian oil company has not received a single application from European companies for the amount of oil offered. Rosneft, in turn, considered the proposals of Asian oil companies to be too low.

The refusal of European companies is due to the fact that Rosneft demanded an advance payment for oil in rubles.