Vice-President of the Argus Information Agency specializing in the oil market, James Guder during an online conference “Argus Oil Market 2021: Global Markets and CIS” called a new potential rival for the Russian Export Oil Urals, the correspondent “Renta.ru” reports “.
According to Guder, the competition Urals already in the foreseeable future can be a new Norwegian Johan Sverdrup oil grade, produced at the same name in the North Sea.
The Johan Sverdrup deposit was open in 2010 and named after the founder of the Norwegian parliamentarism. Its development began nine years later by the state company Equinor.
“one and a half years is operated, but this is the largest flux of oil – more than Brent [one of the reference varieties of oil], more than forties [one of their varieties included in the overall” basket “BRENT]. And if we add it. In the basket of dated Brent, it will mean a serious increase in volume, “Guder said.
According to him, the Russian oil Urals is not so actively sold in European countries. But if the situation changes, and if Johan Sverdrup is included in the Brent basket, the cost of contracts will be higher than on Russian grade.