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Wed 19 Jan 2011, 15:31 GMT

Rosneft plans Singapore bunker launch


Russian oil giant intends to operate under the name Rosneft Marine Singapore Ltd.

Rosneft is planning to establish a bunkering operation in Singapore, the world's leading bunker port, business daily Kommersant said on Tuesday.

The Russian oil giant is expected to launch its new business in Singapore under the name Rosneft Marine Singapore Limited. It is understood that the operation will act as a hub for the company's fuel/oil product trading business in the Asia-Pacific region. Local media reports also refer to Rosneft setting up a 'vessel filling terminal' in the city-state.

Rosneft launched its bunker business in 2007. Activities in this segment are carried out via its subsidiaries RN-Bunker and Rosneft Marine

Rosneft supplies in the ports of Arkhangelsk, Murmansk, Nakhodka, Kozmino, Slavyanka, St Petersburg, Tuapse, Vladivostok, Volgodonsk and Vostochny. It also supplies fuel on the Lena and Amur rivers located in Siberia and Amur Oblast respectively and for the Sakhalin-1 and Sakhalin-2 energy projects off Sakhalin island.

In 2009 Rosneft sold 1.20 million tonnes of bunker fuel, 41 percent higher than in 2008.

Last month Rosneft also launched a new marine fuel business in the United Kingdom under the company name Rosneft Marine UK Ltd. The business is mainly focused on fixing enquiries from European clients for Russian ports.

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