BP and Glencore (OTCPK:GLCNF, OTCPK:GLNCY) are struggling to sell 600K metric tons of tainted Russian crude oil more than three months after the contamination was discovered, Reuters reports, citing trading sources.
Glencore is stuck with 500K mt in one very large crude carrier and two smaller tankers, while BP has tried to sell cargo at a tender earlier this month but failed, according to the report; the two companies bought the oil from Russia's Rosneft.
The companies cannot file a claim against Russia until they actually have sold the oil and counted up the losses, trading sources say.
Russian oil supplies along the Druzhba pipeline to Germany, Poland, Hungary, Slovakia and the Czech Republic have resumed after weeks of severely reduced flows following the contamination.
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