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United States : Rosneft and Major Russian Companies Agree on Partnership in Oil Product Supplies.

Rosneft develops cooperation with major Russian companies in the area of oil product supply. Partnership agreements were signed with METALLOINVEST, OMZ, SUEK and UES Federal Grid Company.

The documents provide for joint research activities in developing, manufacturing, and marketing of high-tech lubricants and oil products. Other intentions within the agreements include the realization of joint product audits, aimed at maximizing the efficiency of utilization and production of a new oil product range.

The key element of the achieved agreements is the confirmation of the commitment of leading Russian industry groups' to import substitution which offers new challenges for the economy by improving competitiveness of domestic industries. For Rosneft, the recent agreements will allow to advance the efficiency of the Company's research and development activities and diversify its marketing channels.

Following the signing ceremony, Igor Sechin said: "We welcome these agreements which lay the basis for our strategic cooperation with leading Russian industry groups. Rosneft will supply lubricants and oil products to various group assets on attractive financial terms and without interruption. We believe that, in the face of the challenges of today's economic and political environment, our companies need to join efforts aimed at making domestic industries more competitive."

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Publication:Mena Report
Date:Dec 6, 2014
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