Crude Oil Exports
Rosneft’s total exports amounted to 60.8 mln tonnes (445.0 mln barrels) in 2010, including crude oil procured from third parties. Export sales volumes were 48.0% higher than in 2009, reflecting an increase in production.
In 2010, the Company exported 40.6 mln tonnes (296.8 mln barrels) of oil to Europe and 3.35 mln tonnes (24.5 mln barrels) to CIS countries. Deliveries to Asia-Pacific countries were 16.9 mln tonnes (123.6 mln barrels), which is 1.6 times more than in 2009.
Growth of exports to Asia-Pacific markets reflects completion in December 2009 of the first stage of the Eastern Siberia – Pacific Ocean pipeline, as far as the Skovorodino station in Amur Region. Oil is loaded into rail tanks at Skovorodino and delivered to the sea terminal at Kozmino, from where it is exported to countries in the Asia-Pacific region. These export deliveries are sourced from the Vankor and Verkhnechonsk fields in Eastern Siberia. Rosneft pays the pipeline transporter, Transneft, a single tariff, which includes both pipeline and railway components. The tariff levels, which are applied, make deliveries of Vankor oil to the east and the west equally efficient.
The reporting year saw formation of a new market in Kozmino and establishment of a new ESPO (Eastern Siberia – Pacific Ocean) crude oil brand. Main players on the new market are regional oil companies and international companies from China, Japan and Korea, as well as large international oil companies and traders. ESPO prices are linked to prices for its main competitor – Dubai crude from the Middle East. Oil shipments from Kozmino use tankers with deadweight of 100,000 tonnes and take 2-3 days, which is considerably quicker than transportation from the Middle East and makes ESPO crude more attractive to buyers. Rosneft deliveries via Kozmino in 2010 were 7.5 mln tonnes (54.5 mln barrels). The average premium for ESPO in comparison with Urals crude was USD 0.8 per barrel during 2010.
China is the biggest importer of Rosneft oil. Deliveries by the Company to that country in 2010 were 9.5 mln tonnes (69.3 mln barrels), as prescribed by agreements dating from 2005. Crude oil was transported mainly by railway. New long-term agreements were reached in 2009 on annual delivery to China of 15 mln tones (110 mln barrels) of oil per year in the period from 2011 to 2030. For purposes of these deliveries a pipeline was completed in November 2010 from Skovorodino in Russia to Daqing in China. Use of the pipeline for agreed oil deliveries began in January 2011.
Most of Rosneft’s export deliveries are via Transneft transport capacities, including export pipelines and ports such as Primorsk, Novorossiysk and Kozmino. Rosneft also has its own crude oil export capacities: a portion of Company oil produced at fields in Timan-Pechora is delivered to export via the Rosneft transshipment complex at Arkhangelsk, and oil produced in the Sakhalin-1 project is exported via the port of De-Kastri in the Far East.
Rosneft export deliveries of crude oil and gas condensate used the following transport routes in the reporting year:
- sea terminals at Primorsk, Novorossiysk, Tuapse, Yuzhny, South Ozereevka (CPC), the Belokamenka floating storage unit, De-Kastri and Kozmino (325.3 mln barrels);
- railroad to China including combined ‘pipeline and rail’ routes (65.3 mln barrels);
- pipelines to Belarus, Ukraine, Poland, Germany, Kazakhstan and China (63.2 mln barrels).
Crude oil export sales
|Europe and other directions
|Europe and other directions