Unipec, the trading arm of Asia’s largest refiner Sinopec, has purchased 8 million barrels of North Sea crude Johan Svedrup for delivery in May, amid high demand in Europe.

This volume is set to be the highest since February 2022, when 8.3 million barrels of the grade headed to China, as reported by Kpler data.

Johan Svedrup has been redirected to meet the demand in Europe over the past year as a result of Western sanctions imposed after Moscow’s invasion of Ukraine in 2022.

Unipec reportedly bought the cargoes at a price of about $2.50 per barrel above dated Brent on a cost and freight basis, according to Reuters.

Johan Svedrup will be replacing some of the April-loading Omani crude, which Unipec sold during the Platts Market on Close process last month.

The production of Sverdrup, which is a medium-heavy crude similar to Russian Urals and Omani oil, was ramped up last year to 755,000 barrels of oil per day (bbl/d). This is more than the planned 660,000 bbl/d after the second phase of development came on stream.