Urals Energy: Tanker Shipment Update
The Board of Urals Energy, the independent exploration and production company with operations in Russia, is pleased to provide the following operational update.
Tanker shipment update
The price per barrel for the tanker shipment announced on 16 July 2018 has now been confirmed as US$76.46 per barrel.
After taking into account all duties and taxes, transport costs, the net proceeds from the shipment are expected to be approximately US$8.4 million, representing a net back of US$53.44 per barrel. This represents an improvement of approximately US$16.46 per barrel, when compared with the net average receipts from the Company’s two tanker export shipments in 2017.
The Board anticipates that the second 2018 tanker loading for Articneft will be in November 2018, with a target of up to 20,000 tons of special light crude oil (158,000 barrels).
