Russian companies say Far East oil pipeline is expected to become Asia-Pacific benchmark crude oil

Moscow, January 19 (Xinhua) The head of the Russian oil pipeline transportation company said 19th, the company responsible for the operation of the Siberia-Pacific oil pipeline (referred to as the Far East oil pipeline) of the use of crude oil espo in the future is expected to become the benchmark crude oil in the region. According to the Russian tower, the company's oil transport, statistics and quality Administration Director Igor Katzar 19th, with the North Sea Brent crude, the U.S. West Texas medium crude oil and the United Arab Emirates Dubai crude oil, the name of the Far East oil pipeline named ESPO crude oil in the future is expected to become the region's benchmark crude oil.　　He said users in the Asia-Pacific region now have high ratings for the new oil species. According to Katzar, ESPO crude oil is a low sulfur light crude oil, the quality is superior to the Russian "Urals" crude oil. The sulfur content of the oil is less than 0.6%, at 20 degrees Celsius density below 850 kilograms/cubic meters. Katzar said: "We believe that ESPO crude oil trading prices will remain at a very high level, will certainly be higher than the ' Urals ' crude oil." Nicolas Tokalev, president of the Russian oil pipeline transportation company, said in a recent media interview that the brand would be recognised by the world as long as the annual traffic volume of the Far East oil pipeline ESPO crude oil increased to 30 million tonnes.　　ESPO crude oil was traded on the St. Petersburg International raw material Commodity Exchange last December. The Far East oil pipeline west from Russia Irkutskaya Obl. 's Techetes, to the Russian Pacific Coast Kozmino Bay, length 4000 kilometers. The first phase of the project includes the Techetes to Skovorodino pipeline (2694 km in length, the design of the annual oil delivery capacity of 30 million tonnes) and the oil export facility at Zimino Bay, and the second phase project includes pipelines from Skovorodino to Kozmino Bay. The first phase project was completed at the end of last year through oil. The first ESPO crude oil the company has shipped is expected to arrive at refineries such as China, Japan and South Korea at the end of February and early March.