Rosneft gets into oil shipping ahead of EU embargo ...News

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Rosneft gets into oil shipping ahead of EU embargo
The company will bear freight costs to facilitate deliveries to customers Russian oil major Rosneft is expanding its tanker chartering business in a bid to simplify oil delivery to customers ahead of the EU sanctions, which include a ban on insuring Russian oil shipments, Reuters reported on Tuesday, citing people familiar with the matter. Prior to sanctions, Rosneft was using the free-on-board (FOB) scheme in oil sales, offering the crude at port, while the buyer had to charter tankers, pay freight, insurance, and delivery costs. Previously, the company had long-term contracts with major trading groups that cover

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