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Purchasers lining up for Russia's new ESPO blend

03/01/2010
By Eric Watkins
ExxonMobil Corp. and Mitsui & Co.—each said to be buying 730,000 bbl—are the latest in a growing list of purchasers of crude oil delivered by Russia's Eastern Siberia-Pacific Ocean (ESPO) pipeline.The two firms join other oil companies in Japan and South Korea, including GS Caltex and SK Energy, which have already bought supplies of the new crude, which started flowing from Eastern Siberia in late December.This week's purchase will arrive in Japan in early March and be processed at two ExxonMobil-affiliated refineries after being carried along the ESPO line to Skovorodino and then by rail to Russia's Pacific Coast port of Kozmino.According to industry observers, the suppli...
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