GENEVA, June 21, 2013 /PRNewswire/ --
Rosneft President and Chairman of the Management Board Igor Sechin and Trafigura Chairman and CEO Claude Dauphin have signed a five year contract with a prepayment to supply crude oil and petroleum products. The contract has been signed at the St Petersburg International Economic Forum and was previously approved by Rosneft Board of Directors on June 18, 2013.
Under this contract Rosneft plans to export up to 10.11 million tons of crude oil and petroleum products via Russian ports to Trafigura, one of the leading global trading houses. The prepayment on the contract will be up to USD1.5 billion. The sale price on this contract will be in line with the price received by the Company at regular tenders.
Commenting on the contract, Igor Sechin said: "Rosneft continuously aims to optimize its trading operations using the most profitable sales channels. We are happy to sign this agreement with Trafigura, one of the largest global traders, and are aiming for a fruitful and successful cooperation."
Claude Dauphin said: "This is the start of what should be a long-term and rewarding relationship for both companies and comes at a time when we're expanding our operations in Russia."
Notes to editors
Rosneft is the leader in the Russian oil industry and one of the largest public oil and gas companies in the world. The primary activities of Rosneft are oil and gas exploration and extraction, production and sale of oil products and petrochemicals.
In 2012, Rosneft reaffirmed its status as the largest company in terms proved liquid hydrocarbon reserves and the leader in terms of hydrocarbon resources among the world's public oil companies.
Rosneft is working actively on implementing large-scale investment projects, penetrating new markets, establishing global energy partnerships and making major acquisitions. After acquiring TNK-BP, Rosneft became the largest publicly traded oil producer in the world.
The Trafigura Group is one of the world's leading international commodity traders, specialising in the oil, minerals and metals markets, with 81 offices in 56 countries in six continents.
The Group's primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, coal, refined metals, ferrous and non-ferrous ores and concentrates. It is the world's second largest privately owned non-ferrous and oil trading company.
Founded in 1993, the company is owned by its founding shareholders and senior management. It has achieved substantial growth in recent years, growing turnover from USD18 billion in 2004 to USD120.4 billion in 2012.
SOURCE Rosneft and Trafigura