April 25 (Reuters)


Russia's (ROSN.MM) Rosneft failed to sell oil in a jumbo tender after demanding prepayment in roubles, five traders said on Monday, meaning the country's top oil company will need to find ways to divert more crude to buyers in Asia via private deals.

The failure of the tender highlights a growing struggle by the Kremlin oil major to sell oil due to sweeping Western sanctions on Russia for the invasion of Ukraine.

Moscow, which calls the invasion "a special operation", has publicly acknowledged it has faced some oil export problems since March due to sanctions but pledged to boost cooperation with Asia to divert some oil sales from the West.

Western sanctions on Russian oil are part of a broader effort to isolate Moscow politically and economically for the invasion that includes discussion of an EU-wide oil embargo. read more

The European Union also advised its members not to succumb to Russian President Vladimir Putin's demand to pay roubles for gas from Russian gas monopoly Gazprom

The EU is much more dependent of Russian gas than on oil and analysts and economists have said a full embargo on Russian gas would plunge the continent deep into recession.

Last week, Rosneft followed on the footsteps of Putin's orders to Gazprom and asked for 100% prepayment and conversion of the payment into roubles for purchases of its oil. read more

Rosneft tendered to sell 6.5 million tonnes of Urals, Siberian Light, Sokol and ESPO Blend oil loading from Russian ports in May-June but no bids were submitted by Monday, the five traders said.

Rosneft did not immediately respond to requests for comment.

It was extremely hard to meet the tender terms, the traders said adding the sale would have been difficult enough without the updated terms as most European majors and even trading firms are winding down purchases from Rosneft.

India's state refiners did not submit bids while volumes of Far East oil grades, Sokol and ESPO Blend, were too prompt to gather interest.


China has not publicly condemned Moscow's actions in Ukraine and India has bought more than twice as much crude from Russia since the invasion despite pressure from Washington to cut sales. read more

https://www.reuters.com/business/energy/rosneft-fails-sell-oil-giant-tender-traders-say-2022-04-25/

plaindealer:
This is how dumb, foolish and grossly overrated POutin is.

The West is buying less of his oil and gas, but is not ready to institute a wholesale ban on Russian energy, but this foolish megalomaniac is fully banning himself and is own oil and gas with dumb demands and stupid rubble payments that the West, his own largest customers will never ever agree to, now he can not sell is worthless oil.

Oil is an international commodity with massive producers and suppliers all over the world willing and ready to fill the void.

The foolish man is doing his own banning all by himself...

What a clown...

rottennaija:

Don't kill yourself because of Putin ooo. Which currency is the company going to use for the tender? Dollar which the western sanction made it useless for Russian? Russia is only going to do what is in their own best interest. If Nigeria starts exporting their oils in our own local currency, you will see the value of Nigeria grow against the dollars. That's how it works.

plaindealer:


Of what relevance is your interest when you can not sell oil to make a living or when buyers are refusing to renew oil contracts? Are you serious?

Russia is a mono-economy country like Nigeria so Nigeria and the last time I checked, oil is an international commodity with tons of suppliers all over the world so who cares about your oil and your demands?

Is the EU freezing over because they refused to pay in rubble? No, PouTIN will end up drinking his own oil

Sirlancelort:


And who told you they cannot sell?, Outside Europe there are other markets, even in Europe some countries are playing along, also don't forget about black market.

plaindealer:


Of what relevance is your interest when you can not sell oil to make a living or when buyers are refusing to renew oil contracts? Are you serious?

Russia is a mono-economy country like Nigeria so Nigeria and the last time I checked, oil is an international commodity with tons of suppliers all over the world so who cares about your oil and your demands?

Is the EU freezing over because they refused to pay in rubble? No, PouTIN will end up drinking his own oil

plaindealer:


You are in a thread and a topic that says Russia can not sell oil to traders and you are still asking me this question?

Some of you just like to talk just for the heck of it.

rottennaija:

Just looking at the bolded and I realize trying to educate you will make me lose brain cells. Go and learn please.

Sirlancelort:


If you go back and read very well you will see where it says Russia would divert more oil to Asia "which apparently will still end up in EU", the topic is emphasizing on EU traders not traders.

Because you decide to pull out of a trade does not mean others won't trade.

Even EU traders go still follow back yard dey buy come media do strong men.

plaindealer:


In what way did your post alter this topic and the fact that it can not sell oil?

Your own opinion per what they can do or not do is irrelevant, they can not sell oil and buyers are not renewing oil contracts, it's there in black and white so why get into an unnecessary argument?

Even Russia admitted that they are not selling enough products and they are losing billions.

It's not by force to abeg..

Sirlancelort:


Ok sir so na your opinion they relevant?, I hear you they cannot sell oil.

Hungary and Austria already confirmed they are ready to pay in rubles many more to follow.

Peace

plaindealer:


https://interfax.com/newsroom/top-stories/30585/

Village illiterate feeling funky?

Your village square education failed you so you are not in any position to educate other people, maybe your fellow villagers.

Go and sit your ignorant ass somewhere abeg..

plaindealer:


Until they actually did that, leave story, it won't happen.

plaindealer:
This is how dumb, foolish and grossly overrated POutin is.

The West is buying less of his oil and gas, but is not ready to institute a wholesale ban on Russian energy, but this foolish megalomaniac is fully banning himself and is own oil and gas with dumb demands and stupid rubble payments that the West, his own largest customers will never ever agree to, now he can not sell is worthless oil.

Oil is an international commodity with massive producers and suppliers all over the world willing and ready to fill the void.

The foolish man is doing his own banning all by himself...

What a clown...

Elvictor:


I see one fake news purveyor running amok above me, Putin, the wisest and strongest man of our time, the antidote of the west.

Bulgaria have comply

I wan see gas wey Poland wan sell to Russia, after Russia cut off their gas supply

plaindealer:


Of what relevance is your interest when you can not sell oil to make a living or when buyers are refusing to renew oil contracts? Are you serious?

Russia is a mono-economy country like Nigeria so Nigeria and the last time I checked, oil is an international commodity with tons of suppliers all over the world so who cares about your oil and your demands?

Is the EU freezing over because they refused to pay in rubble? No, PouTIN will end up drinking his own oil

rottennaija:

,....

plaindealer:


I'll take you abd your fake news seriously when you name the countries.

I repeat, not a single country in Europe is paying for any Russian gas in rubble.

Posting tweets by woye and other pouTin ass's sniffers on Twitter is really laughable and comedic. Find better and intelligent news sources..

plaindealer:


I'll take you abd your fake news seriously when you name the countries.

I repeat, not a single country in Europe is paying for any Russian gas in rubble.

Posting tweets by woye and other pouTin ass's sniffers on Twitter is really laughable and comedic. Find better and intelligent news sources..

rottennaija:


����� London betrayed Kyiv: During the operation in Ukraine, Britain imported Russian oil for 220 million pounds - about 1.9 million barrels:

“The British government is no stranger to hypocrisy, but to promise ‘unwavering support’ to Ukraine while simultaneously shipping almost 2 million barrels of Russian oil is utter hypocrisy even by Boris Johnson’s standards,” Independent, citing a new Greenpeace study

rottennaija:

Relax, I give you news ahead of main stream media. Eventually, you will see it.

plaindealer:








I don't do fake news...

plaindealer:








I don't do fake news...

rottennaija:
..........