Lukoil and Rostec sign refining cooperation agreement

According to the document, the parties agreed to develop products and technical solutions that will contribute to the efficiency of production, transportation, processing, refining and sales of hydrocarbons and facilitate supplies of energy resources to consumers across various sectors of economy.

Lukoil has been for many years supplying various fuels and a wide range of lubricants to businesses, incorporated in Rostec.

"Lukoil and Rostec share a long history of cooperation. Lukoil purchases industrial equipment and IT-products to Rostec, while supplying it with our products. We explore probable development scenarios for petrochemistry. Aside from basic polymer production projects, we are also looking into fine chemical industry. Fine chemicals are highly sought for by Rostec. Lukoil conducts research to develop cutting-edge technologies, which might be used by Russian military-industrial complex," said Alekperov.

"The new agreement provides for an upgrade of LUKOIL's infrastructure by introducing Rostec's solutions for security, industrial automation, telecommunications and IT, and remote work, the latter being of an especially great interest given the ongoing pandemic. Our partners also express an interest in our unmanned aerial vehicles and the Mi-171A3 offshore helicopter designed for maintenance of offshore drilling platforms," noted Chemezov.

The intentions, envisaged by the agreement, will be implemented by Lukoil-Rostec joint working groups.

Read the article online at: https://www.hydrocarbonengineering.com/refining/20102020/lukoil-and-rostec-sign-refining-cooperation-agreement/