Russia’s Lukoil Sells Rare Arctic Crude Oil to China

By Shu Zhang and Olga Yagova SINGAPORE/MOSCOW, Oct 2 (Reuters) - Russian oil producer Lukoil has sold a cargo of Varandey Blend crude to a Chinese buyer with the shipment sailing via Arctic waters in an unusual trade flow, according to industry sources and shipping data. Lukoil's trading arm, Litasco, sold the cargo to Chinaoil, the trading vehicle of state-owned CNPC, said … [Read more...]