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 Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Contracts

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

Fuels & Lubes

Thordon Bearings Secures AK Ferry Contract

Thordon Bearings has received an order to supply its COMPAC system to two Alaska Ferry newbuilds under construction at the Vigor Industrial shipyard in Ketchikan, Alaska.

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

ClassNK Releases Guidelines for CNG Carriers

Classification society ClassNK has released its Guidelines for Compressed Natural Gas (CNG) Carriers.   Global economic and population growth is bringing about

News

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Entertainment

MOL Wins Eco Awards in California

Mitsui O.S.K. Lines, Ltd. earned recognition from the ports of both Los Angeles and Long Beach, California, today, for its efforts to ensure compliance with

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

Victoria Celebrates Six Millionth Cruise Ship Passenger

Two tourists  -Victoria and Joseph Winthal - disembarking the Golden Princess Cruise Ship in Ogden Point have got an unexpected surprise.      They were selected

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar Winch
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: 0.2365 sec (4 req/sec)