Reuters reported that BP Plc joint venture in Russia, TNK-BP sold two 730,000-barrel cargoes of ESPO crude at higher premiums than the previous month after refining margins improved.

The traders said the producer sold a September 6-9 cargo to Japanese refiner JX Nippon Oil & Energy Group at a premium of between USD 2.80 and USD 3 a barrel to Dubai quotes. It sold a September 14-19 cargo to BP at a premium of about USD 3.15 a barrel.

The deals could not be independently verified.

TNK-BP last sold a cargo of ESPO crude for August at USD 2.35 a barrel above Dubai quotes, the lowest premium in 20 months.

Source - Reuters

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