News 2019October, 2013
The world's largest oil traders Swiss companies Glencore and Xstrata and Swiss-Dutch company Vitol are vying for the conclusion of a contract with NC KazMunayGas for the purchase of oil from Kashagan field on the Caspian Sea shelf, as reported by Bloomberg agency citing the informed sources.
Currently, the companies are actively engaged in negotiations with Kazakhstan. The estimated supply period is 5 years. To make a pre-payment, the companies may raise a loan of one billion U.S. dollars. . Recently, the major oil traders have concluded a number of agreements with manufacturers from Russia and Central Asia to ensure long-term supplies.
Specifically, Glencore and Vitol signed an agreement with Rosneft. The agreement with Glencore provides supplies of up to 46.9 million tonnes, and an agreement with Vitol - up to 20.1 million tonnes. Trafigura and Rosneft also signed a contract in June for a period of 5 years for the supply of petroleum and oil products with volume of up to 10.11 milliontonnes with a deposit of up to 1.5 billion dollars.