MOSCOW (MRC) -- The board of Rosneft has approved deals to sell refined products to BP worth more than USD6 billion, reported Hydrocarbonprodcessing with reference to the Russia-based company's statement.
This comes on top of a prior agreement to sell oil worth USD5.3 billion to BP.
In a regulatory filing, the Russian producer said it would ship up to 3.2 million metric tons of fuel oil to BP Singapore between November 2013 and December 2014.
Rosneft will also sell up to 1.44 million tons of diesel to BP with an estimated value of USD1.77 billion.
Additionally, Rosneft will supply BP with up to 2 million metric tons of fuel oil to BP worth approximately USD1.62 billion, and up to 60,000 tons of naphtha estimated at USD65 million.
The announcement follows a deal last month when BP said it would purchase USD5.3 billion worth of oil from Rosneft.
As MRC informed earlier, in May, 2013, Rosneft and Mitsui signed an agreement to jointly develop the massive Far East Petrochemical Company (FEPCO) project. FEPCO, a subsidiary of Rosneft, is developing the project. Processing capacity of the petrochemical complex is planned at 3.4 million tpy of hydrocarbon feedstock, predominantly naphtha. The capacity of ethylene and propylene production unit is planned at 2 million tpy.
Rosneft became Russia's largest publicly traded oil company in March 2013 after the USD55 billion takeover of TNK-BP, which was Russia’s third-largest oil producer at the time.
MRC