Rosneft and Grupa Lotos S.A. agreed to extend the contract for oil supplies to Poland signed on 20 December 2013. The updated commercial terms and conditions envisage a year extension of the contract (till 31 December 2017) and increase of supplies by 300 000 t to reach 2.7 million tpy of oil.
The agreement to continue cooperation with Lotos proves the quality of Rosneft’s partnership relations with major consumers in traditional regions of Russian oil sales. Access to infrastructure channels of supplies, and particularly to the Druzhba oil pipeline, provides for uninterrupted crude delivery to European refineries maximising their economic efficiency.
The increase of oil supplies complies with Rosneft’s strategy of creating the shareholder value via improved efficiency of oil sales as well as meets consumers' interests and enhances energy security of Europe.
Edited from press release by Angharad Lock
Read the article online at: https://www.worldpipelines.com/project-news/25012016/rosneft-increases-supplies-to-lotos-2252/