RUSSIAN EAST SIBERIAN PACIFIC BASIN CRUDE OIL

Description

ESPO is a brand of Siberian oil supplied via the Eastern Siberia-Pacific Ocean (ESPO) pipeline. The price of ESPO oil is now pegged to the Emirati grade Dubai Crude, By US standards, the density of one of the oil-based blends supplied through the ESPO, called ESPO Blend, is *4.8 degrees API with a sulfur content of 0.*2% (up to 0.*3%), while Dubai oil is significantly more sulfurous - 2.0% at a density of *1 degrees API. As a result, such oil is more attractive to oil refiners than Urals, since the removal of sulfur during the processing of raw materials is a complex process that increases the cost of fuel. However, for comparison, the oil of the most common.