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New Urals Heavy oil blend may pose production drop threat — Bashneft

May 19, 18:59 UTC+3
The Russian oil pipeline operator Transneft said earlier it proposed to the Energy Ministry to create a new Russian export oil blend provisionally styled ‘Urals Heavy’ with 2.3% sulfur content
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© Viktor Drachev/TASS Archive

MOSCOW, May 19. /TASS/. Development of a new Russian export oil blend provisionally known as ‘Urals Heavy’ will make the price for high-sulfur feedstock cheaper without the Urals blend price increase, a representative of the Russian oil producer Bashneft told TASS on Thursday.

The Russian oil pipeline operator Transneft said earlier it proposed to the Energy Ministry to create a new Russian export oil blend provisionally styled ‘Urals Heavy’ with 2.3% sulfur content.

"If a dedicated stream for sour oil is created without special tax regimes for companies dealing with its production and refining, a threat appears of oil production drop due to lack of profit in a whole series of projects as a result of lower return on processing and sales of high-sulfur oil," the representative said.

"Creation of a new oil blend will result in lower price of high-sulfur feedstock without Urals price increase," he added.

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