OREANDA-NEWS. December 24, 2009. TNK-BP sold 29,880 tons of oil products, including 16,380 tons of diesel fuel, 10,980 tons of Ai—92 gasoline and 2,520 tons of Ai—95 gasoline, in the latest auction of large lots of oil products at the Saint Petersburg International Commodity Exchange, the press service of the company told to the Petroleum Information Agency (ANI). This was the last auction of the company this year at the Saint Petersburg International Commodity Exchange, reported the press-centre of TNK-BP.

The overall amount of oil products sold by TNK-BP at exchange auctions in 2009 exceeds 280,000 tons, of which 160,560 tons of fuel was sold in large lots. In November and December, the volume of sales at exchange auctions was close to 15% of the demand for oil products of TNK-BP on the domestic market. TNK-BP fuel is bought by sales subsidiaries of vertically integrated companies, including subsidiaries of TNK-BP and other wholesale and retail traders.

“We are welcoming the fact that the government has included oil products into the list of goods that budget-funded enterprises will have to purchase in H1 2010 on electronic trading floors. This measure will considerably improve the liquidity of exchange fuel trading, which is essential for successful development of the exchange fuel trading mechanism.
 
Liquidity of fuel sales at the Saint Petersburg International Commodity Exchange may be a major step towards better transparency and higher efficiency of the Russian domestic market of oil products,” the press service of the company quoted the words of Jonathan Kollek, Vice President, Sales, Trading and Logistics, TNK-BP.

“Attainment of this goal requires active participation of all major players of the market and centralization of sales volumes at one commodity exchange. Dispersion of sales volumes over several markets decreases the liquidity of sales and diminishes the final effect,” said Mr. Kollek.
Next year, TNK-BP is going to increase the volume of fuel sales at exchanges.