In line with its strategic plan
to get closer to certain end user markets, Geneva based Petroval has concluded a long term contract for storage of fuel oil with Vopak at their Europoort site, commencing in the second quarter of 2004. Petroval will break bulk and re-deliver products, which are refined at Russian refineries as well as in Lithuania, directly into the Rotterdam bunker market. Petroval is an oil trading company specializing in the marketing and sales of crude oil and refined oil products originating mainly from the Russian Federation. The company through commercial contracts handles most of the international exports of products refined by Yukos Oil Company.