Rosneft and AVTOVAZ Strengthen Strategic Cooperation

By Joseph R. Fonseca
Friday, August 29, 2014
Rosneft and AVTOVAZ signed an Agreement of development of strategic cooperation

Rosneft President, Chairman of the Management Board Igor Sechin and AVTOVAZ President Bo Inge Andersson signed an Agreement of development of strategic cooperation, which significantly expands the scale of partnership between the companies.

Among other things the document envisages the development, testing and introduction of lubricant materials and other Rosneft oil products required by AVTOVAZ businesses; and the possibility of closing of long-term contracts for the supply of AVTOVAZ production facilities with high-quality lubricant materials and oil products. Such a cooperation configuration will allow AVTOVAZ to optimize the purchasing procedures and curtail production expenditures. In its turn Rosneft will receive a guaranteed distribution channel for its products and a possibility to conduct joint R&D in the sphere of the creation and implementation of modern solutions in the sphere of lubricant materials.

Moreover the Agreement envisages Rosneft sponsorship of the LADA SPORT ROSNEFT auto sports team, therefore the parties are aimed at building on the progress of LADA cars in the world’s and Russian Touring Championships by presenting a joint team at the WTCC (World Touring Car Championship) and Russian Circuit Racing Series starting from the year 2015. At that time LADA SPORT ROSNEFT team on the international competitions will compete on LADA Vesta Sport cars, while Russian events will feature Lada Kalina Sport cars.

Commenting on the signing Igor Sechin said: “Such an agreement with the leader of the Russian car industry opens new perspectives for Rosneft that will allow both boosting the sales and increasing the quality of its products, by receiving and analyzing end-customer feedback. The support of AVTOVAZ racing teams will give a substantial push for the development of Russian auto sport, both on the internal and international scene”.

After the signing AVTOVAZ President Bo Andersson stated: “Racing is a critical part of the new AVTOVAZ. It is about competitions and team work. Today at AVTOVAZ we are all focused on execution of new products and on making LADA customers proud again to drive LADA products. That is why partnership with Rosneft is of major importance for us. Rosneft is one of the strongest oil companies in the world and the strongest in Russia. From now on, AVTOVAZ and Rosneft have new mutual commitments. Together we will achieve new triumphs!”

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Young Taken on PESA Advisory Board

Hoover Container Solutions’ chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association (PESA) Advisory Board for a three-year term.

US Navy Tests Latest Aegis Weapon System

The U.S. Navy conducted a series of cooperative air defense test exercises with the Spanish navy that culminated in live missile firing events using the latest Aegis Weapon System baseline July 20-21.

Antwerp Port CEO Scoops Baron Title

After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium

Contracts

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Team Britannia, GAC Inks Partnership Deal

As Team Britannia prepares for its bid to break the round-the-world powerboat record later this year, GAC has been named their official shipping and logistics partner.

Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will

Fuels & Lubes

KR Boosts Operational Efficiency with Boxship Conversion

The Korean Register has announced that it has successfully completed a feasibility study for the conversion of an 8,600 teu containership into a 10,000 teu vessel.

WWL Adds Another Neo-Panamax

Themis is Wallenius Wilhelmsen Logistics’ (WWL) fourth Neo-Panamax class vessel, which means it is built for the expanded Panama Canal inaugurated June 26.   Like her sister vessels,

Dark Cloud of Offshore Storage Looms

Glencore books the STI Grace tanker to store fuel at sea-traders. This has not been the summer many oil traders had expected after last year's bumper profits.

News

Canadian Authorities seek to contain oil spill moving down river

Authorities are building a new containment boom to fight an oil spill in a major western Canadian river, officials said on Saturday, after the spill breached a

Ecuador Pays $112 mln Award to Chevron

Ecuador has paid $112 million to energy company Chevron Corp over a four-decade-old contract dispute, even though it remains in disagreement, the head of the central bank has said.

ASEAN in Discord Ahead of Meeting with top China, U.S. Diplomats

Southeast Asian nations were thrown into disarray after Cambodia on Saturday blocked them from issuing a statement referring to an international court ruling against

Entertainment

IRClass First to Certify Indian Recycling Yards per EU Standard

IRClass is amongst the first organizations in the world to certify ship recycling yards according to EU standards as an ‘Independent Verifier’. IRClass Systems and Solutions Pvt.

China to Add 8 Cruises to Push Tourism in South China Sea

Three State-owned enterprises from the shipping, tourism and construction sectors will cooperate to equip up to eight cruise liners and offer diversified sightseeing

MPA Launches Inaugural Maritime Youth Festival

Senior Minister of State, Prime Minister's Office, Ministry of Foreign Affairs & Ministry of Transport, Mrs Josephine Teo officially opened the inaugural Maritime Youth Festival (MYF).

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1402 sec (7 req/sec)