LONDON (Alliance News) - Ruspetro PLC Tuesday said it has signed a domestic crude oil prepayment facility with Energo Resurs LLC, a subsidiary of Glencore International AG, for approximately USD22 million.
The Russian oil and gas company said the facility is for a period of one year, and requires Ruspetro to deliver 7,000 metric tonnes per month of crude oil or roughly 1,680 barrels of oil per day to Glencore, part of Glencore PLC.
It said the facility is in addition to the export prepayment facility entered into with Glencore Energy UK Ltd back in March for USD30 million.
Ruspetro shares were trading 0.7% higher Tuesday morning at 18.88 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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