Rosneft and PetroVietnam have signed a long-term agreement on oil supply

​Rosneft and PetroVietnam Oil Corporation (affiliate of PetroVietnam) have signed a long-term contract for oil supply. The document was signed by the CEO of Rosneft, I. Sechin, and Vice-President of PetroVietnam, Vo Khan Khyng.

The completion of the deal will take place after the issue of the necessary regulatory and other approvals.

The contract presupposes the supply of up to 96 mln tons of oil until 2040 to PetroVietnam.

The agreement shows the success of Rosneft’s strategy in the sphere of trading. The increase of the volumes of supply allows to form the additional shareholder value of the company and expand cooperation with partners in the market of the South-Eastern Asia.

Mr. Sechin said: “Due to the reached agreements Rosneft will occupy the leading position in providing the energy resources to one of the most dynamically developing countries in the APR. The long-term agreement will allow Rosneft not only to increase the economic effectiveness of supplies but will also become the additional stabilizing element for the world raw materials markets”.

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