Rosneft, PDVSA sign long-term oil, products supply contract

OAO Rosneft reported signing a long-term supply contract for oil and oil products with Petroleos de Venezuela SA (PDVSA).

Rosneft expects to receive supplies of more than 1.6 million tonnes of oil and 9 million tonnes of products within 5 years.

Rosneft said it has received 375,000 tonnes of products via another supply contract the companies signed in May.

The companies also have five joint oil production projects in Venezuela (OGJ Online, July 30, 2014).

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