EMEA News
Rosneft and Hellenic Petroleum Ink Co-Operation Agreement
Russia's Rosneft has announced that it has signed a co-operation agreement with Greek refiner Hellenic Petroleum S.A. (Hellenic Petroleum) outlining the terms of crude and oil products supply in Greece.
Among the terms agreed is the potential for Rosneft to utilize product from Hellenic Petroleum's refineries for bunkering and trading.
The agreement is said to have been signed by Rosneft's Chairman of the Board Igor Sechin and Hellenic Petroleum CEO Grigoris Stergioulis in the presence of Russian President Vladimir Putin and Greek Prime Minister Alexis Tsipras.
"The agreements open up broad prospects for further development of cooperation with Hellenic Petroleum," said Sechin.
"Along with creating an extra channel of product sales, potential direct contracts will help us strengthen positions of Rosneft's trading division. The Greek partners, in turn, will have a guaranteed channel of supplies of high-quality energy sources at competitive prices."
In February, Ship & Bunker reported that Fortone Group, a privately owned Chinese company, was cancelling a deal that would have seen the purchase of about $680 million in fuel oil from Rosneft, which it was intending to sell to independent refineries.
