Swiss trading giant Glencore has scored a victory over its rival Vitol by winning a tender held by BG to market its share of CPC Blend crude oil out of Caspian Pipeline Consortium (CPC) terminal near the Russian Black Sea port of Novorossiysk for the second half of the year. Vitol, which is the dominant offtaker of Kazakh crude with total volumes in excess of 200,000 b/d, had held the contract for the past several years and had been confident of winning again, trading sources say.
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