Greece’s Motor Oil Hellas Corinth Refineries and Rosneft have signed a deal on mutual supplies of crude oil and oil products for the next 5 years, Rosneft reported on November 20, 2017.
The document defines the intentions of parties for arrangement of the mutual supplies of feedstock and oil products during the next 5 years and implies potential possibility of increasing of these volumes to 7.5 mtpa.
Rosneft, Petrocas Energy (Rosneft's Group subsidiary) and Motor Oil Hellas Corinth Refineries signed a 3-lateral agreement about intentions in the crude and oil product supply.
The document will also enable Rosneft to independently sell oil products produced at the refineries of Motor Oil Hellas for trading using facilities of Petrocas Energy.
Implementation of the conditions of the signed agreement will increase the cost-effectiveness of Rosneft oil and oil products marketing, at the same time, allowing the partner to offer flexible supply framework.
The agreement is signed within the framework of development of the partnership relations between Petrocas Energy and Motor Oil Hellas. In 2017 the supply and procurement of oil products amounted to over 2 mmt.
Oil products were supplied to Motor Oil Hellas mainly using resources of Rosneft.
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