August 8, 2019 / 1:54 PM / a year ago

UPDATE 2-Gunvor, SOCAR Energoresource fail to strike deal for Antipinsky refinery products-sources

(Added Gunvor declined to comment)

MOSCOW/LONDON, Aug 8 (Reuters) - Oil trader Gunvor has decided against signing a contract for oil products it had won the right to export in a tender from Russia’s troubled Antipinsky refinery, three trading sources told Reuters on Thursday.

SOCAR Energoresource, a joint venture between Russian lender Sberbank and a group of investors, holds an 80% stake in the refinery, which has debt exceeding $5 billion and has filed for bankruptcy.

Last week, SOCAR Energoresource awarded up to 150,000 tonnes of ultra-low sulphur diesel originating from the Antipinsky refinery and loading via the Baltic port of Primorsk over August-September to Gunvor, through tenders, and up to 30,000 tonnes of gasoline AI-80 for delivery in August via the Baltic Sea port of Ust-Luga.

Three trading sources familiar with the tenders said that Gunvor has refused to sign a firm deal since then, as SOCAR Energoresource and Gunvor failed to agree on the terms of the contracts.

Cargoes refused by Gunvor will be reallocated to other tender participants.

A Gunvor spokesman declined to comment.

A SOCAR Energoresource spokesman declined to comment, Antipinsky refinery did not immediately reply to a Reuters request for a comment. (Reported by Natalia Chumakova Additional reporting by Julia Payne in London Editing by David Goodman and Alexandra Hudson)

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