Russia’s Rosneft signs oil supply deal with Greece’s Motor Oil

Russia’s largest oil producer Rosneft and Greece’s Motor Oil Hellas Corinth Refineries have signed a deal on mutual supplies of crude oil and oil products for the next five years, Rosneft said on Monday.

Rosneft said the deal, signed with the participation of Petrocas Energy, a Rosneft subsidiary, implied the possibility of increasing annual oil and oil product supplies to up to 7.5 million tonnes (150,000 barrels per day).

“The document will also enable Rosneft to independently sell oil products produced at the refineries of Motor Oil Hellas for trading using facilities of Petrocas Energy,” Rosneft said. [Reuters]