ShippingWatch

Oil giant wants Russian bunker monopoly

The Russian bunker market will be reduced to three players if prime minister Medvedev approves a controversial proposal submitted by state-owned oil giant Rosneft.

The president of major state-owned Russian oil company Rosneft has written a letter addressed directly to Russian prime minister Dmitri Medvedev, in which he proposes a much larger degree of regulation for the Russian market for ship fuel than is currently the case.

The letter, which according to PortNews was sent on September 23rd, contains recommendations from Rosneft president Igor Sechin, in which he particularly stresses a need for entering long-term contracts with the three major state-owned companies, in an effort to ensure the quality and tax payment, he says. He suggests, among other things, the exclusion of a long line of small private players from the Russian bunker market, as according to Sechin, these private players are purchasing low quality bunker from smaller independent refineries, a situation he claims hurts the industry and the state.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs