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Buy at least a “concoctions”: Russia is preparing a new variety of cheap oil

Купите хоть "бодягу": Россия готовит новый сорт дешевой нефти

The Russian company “Transneft” wants to market a new variety of cheap Heavy oil with higher sulphur content.

This was stated by the representative “Transneft” Igor Katsal.

The Urals-based Heavy oil can be mined in the Ural-Volga region, and Urals from existing it will be different higher sulfur content: 2.3 to a 3.5% instead of 1.3% and 1.7% respectively. It is high concentration and reduce the cost of this brand of black gold, as the higher sulphur content — the cheaper oil.

It is planned that the creation of Urals Heavy will allow Russian suppliers to avoid reduction in the price of high-sulfur oil Urals, if its sales volumes will continue to rise. The price of a barrel of Ural Urals Heavy will be lower by $2-4,5 per barrel.

As reported by the “observer”, formerly the Russian Minister of economic development Alexei Ulyukayev said that the conservative forecast assumes oil prices in 2016-2019 at $25 per barrel.

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