Kazmunaigaz, a subsidiary of Kazmunaigaz Group (KMG), awarded Geneva-based BGN up 520,000 metric tonnes per month of CPC Blend in an auction for supply until 2025.

Sources say that KMG sold CPC Blend Oil sourced from Tengizchevroil - an operator of Kazakhstan’s massive Tengiz oilfield - for loading between January and December.

BGN, based in Geneva, has won the rights to load three Aframax tankers (each weighing around 80,000 tons) and two Suezmax tanks (140,000 tonnes each) each month.

BGN declined to comment on a request. Kazmunaigaz refused to comment.

KMG owns a 20% stake alongside U.S. company Chevron, which holds 50% of the firm. ExxonMobil has 25% and Lukoil 5%.

Traders said that Petraco was the firm responsible for transferring KMG's CPC Blend share from Tengizchevroil to CPC Blend last year. (Reporting and editing by Jason Neely).

(source: Reuters)