Rosneft has signed a series of agreements with BP over long-term deliveries of oil products and oil on a pre-paid basis.
The deal covers export deliveries from the Russian giant of oil products, and possibly oil, of up to 12million tons within five years in bulk at no less than $1.5million.
Contractural deliveries are set to start in July this year.
“This transaction opens up new opportunities for both companies: it provides BP with stable supply chain and guaranteed quality of oil products and allows Rosneft to support high profitability of its sales activities and acquire additional financial resources in accordance with the referential nature of such deals,” said Igor Sechin, president amd chairman of Rosneft.
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