Rosneft will sell petroleum products only through commodity exchange

From February 2010 onwards, Rosneft will no longer offer monthly auctions to sell its petroleum products in Russia. All free volumes that the company now sells on a “free departure station” (FDS) basis–whereby the seller is responsible for delivering to and unloading goods at the dispatching station–will, from now on, be sold only through the commodity exchange. Taking as guidance the positive feedback of its customers, who value the convenience and transparency of exchange trading, Rosneft decided to stop the FDS-based auction sale of principal types of motor fuels, heating fuel, bitumen and aviation fuel. Relatively small volumes were sold through the auctions as opposed to the commodity exchange, the company said. (February 4, 2010)