MOSCOW April 3 (Itar-Tass) - Rosneft President and Chairman of the Management Board Igor Sechin and UC Rusal Chief Executive Officer Oleg Deripaska on Wednesday, April 3, signed a cooperation agreement on supplies of petroleum coke and other Rosneft petroleum products to Rusal enterprises.
The parties agreed to form a working group on a parity basis that will consider terms of possible long-term petroleum coke supply contracts, prospects for Rosneft to increase petroleum product supplies under current agreements and Rusal’s participation in construction of new capacities to produce petroleum coke at Rosneft enterprises.
The working group will consider the balance of petroleum coke production and consumption for the period until 2018 and new areas for cooperation between the companies.
Rosneft currently supplies petroleum coke to Rusal’s enterprises from Angarsk Petrochemical Company and from Novokuibyshevsk Refinery, and petroleum products from Samara group of refineries and Angarsk Petrochemical Company, the Rosneft Information Division said.
Rosneft is the leader of Russia’s petroleum industry, and ranks among the world’s top publicly traded oil and gas companies. The company is primarily engaged in exploration and production of hydrocarbons, production of petroleum products and petrochemicals, and marketing of outputs. Rosneft has been included in the Russian Government’s List of Strategic Enterprises and Organisations. The state holds 75.16 percent in the company (through Rosneftegaz), while approximately 15 percent of shares are in free-float.