OREANDA-NEWS. Rosneft representatives took part in the Commodity Exchange Market Russia – 2015 Conference. During the event organized by the Saint-Petersburg International Mercantile Exchange (SPIMEX), the performance results of the key participants of this trading platform for 2015 were discussed and priorities for further improvement of the commodity exchange tools for the marketing of oil products and gas were set.

Rosneft believes that the exchange provides an important infrastructure platform enabling commodity market operations and a clear and transparent mechanism of fair pricing for key commodities produced in the Russian Federation.

Since the very beginning of exchange trading, the Company has been a leader in oil product sales on the SPIMEX platform. For instance, in the first 10 months of 2015 Rosneft sold 3.9 million tons on the exchange, 4 times more than the sales volumes it had in 10 months of 2010 (0.98 million tons). The Company's share in total exchange sales in the Oil Products section grew from 26% to 31%.

Rosneft is taking an active part in the development of gas trading on the exchange. Since the exchange gas trading started in October 2014, the Company sold more than 2.4 bcm of gas on the exchange, 36% of total exchange sales. It is important to note that the first gas trading with next-day shipment began on 23 October 2015 enabling to speed up the shipment times and increase the exchange's trading volumes.

Due to effective interaction between Rosneft, SPIMEX and other traders, a family of exchange indexes was developed enabling to improve the oil product pricing transparency in the country.

The Company is in constant dialog with other traders to improve the SPIMEX operation mechanisms, in particular, to increase the representativeness of the price indexes formed at the exchange and enhance the counteraction against speculative components. Rosneft believes that the priority objectives in this respect would include increasing the number of end consumers that participate in the trading, additional restrictions for some buyers to use robot programs in periods of demand growth, greater liability of the traders for noncompliance with the exchange contract terms.