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

People & Company News

Northern Lights Opens Branch Office in Louisiana

Marine power generation and climate control products manufacturer Northern Lights has opened its fifth branch office, in Kenner, La, to enhance service to Gulf

Sevan Marine Divests Stake in KANFA Aragon

Sevan Marine ASA said it has disposed 50 percent of its stake in KANFA Aragon AS to Sembcorp Marine Ltd. for cash consideration of NOK 20 million, representing

EU to Accept Antitrust Offer from Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe,

Contracts

Boskalis Secures Dike Reinforcement Project

Royal Boskalis Westminster N.V. announced that the Noorderzijlvest district water board intends to award the contract for the Eemshaven-Delfzijl dike reinforcement

Wärtsilä, Zamakona Yards Join forces in Canary Island

Wärtsilä is enhancing its service offering by participating in a new maintenance hub in the Canary Islands. The facility, operated by one of Spain's biggest shipbuilding and ship repair groups,

Diana Shipping Enters Contract with SwissMarine

Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels,

Fuels & Lubes

Panama Canal Expansion: Impacts on the Bunker Industry

The total volume of the Panama bunker market has increased in recent years as price levels are becoming increasingly competitive to U.S. bunker hubs like Houston, New Orleans and New York.

LUKOIL Introduces New Crankcase and Cylinder Oils

LUKOIL Marine Lubricants has introduced the newly formulated NAVIGO 6 CO crankcase oil and NAVIGO 70 MCL AW cylinder oil, offering newly designed additive packages

UAE Top Court: Physical Bunkers Suppliers Have No Right to Recourse against Owners/Charterers

The OW saga - UAE Federal Supreme Court decides that physical suppliers of bunkers have no right to recourse against Owners/Charterers. In the first decision

News

Boskalis Secures Dike Reinforcement Project

Royal Boskalis Westminster N.V. announced that the Noorderzijlvest district water board intends to award the contract for the Eemshaven-Delfzijl dike reinforcement

Russia, US Blame Each Other for Maritime Incident

Russia and the United States gave contradictory accounts on Tuesday of an incident involving the two countries' navies in the Mediterranean Sea on June 17, each

Northern Lights Opens Branch Office in Louisiana

Marine power generation and climate control products manufacturer Northern Lights has opened its fifth branch office, in Kenner, La, to enhance service to Gulf

Entertainment

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Ovation Of The Seas Sets Sail From China

Royal Caribbean christened their third Quantum class cruise ship, Ovation of the Seas, to huge fanfare in a ceremony in Tianjin, China.   The event marked the

Countdown Begins for Expanded Panama Canal opening

History will be made in Panama on Sunday, June 26, when the first-ever Expanded Panama Canal is inaugurated. The COSCO Shipping Panama will transit through the new locks on this significant day,

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1266 sec (8 req/sec)