Russia’s Lukoil Ships Arctic Oil To China In Unusual Trade Flow

The trading arm of Russia’s second-largest oil producer, Lukoil, has sold a crude oil cargo to the trading unit of the China National Petroleum Corporation (CNPC) in a rare trade route in the Arctic, Reuters reported on Wednesday, citing shipping data from Refinitiv and two industry sources. Lukoil’s trading unit Litasco sold a cargo of the Varandey blend to CNPC’s trading arm Chinaoil and the oil tanker, Korolev Prospect, made the voyage via the Northern Sea Route (NSR) from Murmansk to the Chinese port of Dongjiakou—a…