Rosneft, Petrocas Energy (Rosneft's Group subsidiary) and Motor Oil Hellas Corinth Refineries signed a three-lateral agreement about intentions in the crude and oil product supply.
The document defines the intentions of the parties with regards to arranging mutual supplies of feedstock and oil products over the next five years. It also suggests the potential of increasing supply volumes to 7.5 million tpy.
The agreement brings Rosneft’s cooperation with Greek partners to a new level and sets a foundation for stable and long-term relations in the field of supply of crude and other feedstock for Greek refineries. The document will also enable Rosneft to independently sell oil products produced at Motor Oil Hellas’ refineries for trading using facilities of Petrocas Energy.
Implementation of the conditions of the signed agreement will increase the cost-effectiveness of Rosneft’s oil, at the same time, allowing the partner to offer flexible supply framework.