Eni, Rosneft Sign Oil Supplies Agreement

Posted by Michelle Howard
Tuesday, November 26, 2013

Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, has signed a term sheet on mutual crude oil supplies and a heads of agreement on joint participation and investments in logistic and commercial activities within the hydrocarbons sector.

Rosneft will supply crude oil to PCK Schwedt refinery in Germany and Česká Rafinerska refinery in the Czech Republic which are both participated by Eni. In turn, Eni will perform seaborne supplies to Rosneft in the frame of Rosneft’s stake in RuhrOel GmbH refineries, in Germany. Within principal arrangement in logistics and commercial activities stipulated in the heads of agreement, Eni and Rosneft have agreed the principal terms for joint investments in the development of the new Eni Logistics Center in the Venice area.

These agreements further strengthen the partnership between Eni and Rosneft and are within the agreement signed between the two companies in February 2013, which is aimed to develop synergies between the companies’ respective logistic infrastructure networks.

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