Rosneft Inks Supply Pact with PDVSA

Russian top crude producer Rosneft and Venezuelan state oil company PDVSA have signed a new contract for supplies of oil and oil products of Venezuelan production, the Russian company said on Monday.

The document envisages the supplies of over 1.6 million tonnes of oil and 9 million tonnes of oil products to Rosneft within five years, it added in a statement.

Under their first long-term contract, signed in May, the Venezuelan party has already supplied 375,000 tonnes of oil products, Rosneft said.

Reporting by Polina Devitt