20 Jun 2015 15:10

Rosneft to cooperate with Egyptian General in fuel supplies to Egypt

MOSCOW. June 20 (Interfax) - OJSC Rosneft and Egyptian General Petroleum Corporation have signed a memorandum of mutual understanding in the field of petroleum product supplies as part of the St. Petersburg International Economic Forum.

"The signed document envisages cooperation in the area of Gasoil, Gasoline, Fuel Oil, LPG & Bitumen supplies allowing Rosneft to expand its portfolio of products delivered into North Africa. The cooperation with the Egyptian General Petroleum Corporation will enable Rosneft to supply products directly into Egypt increasing the company's netbacks along the value chain. A joint working group may be formed to develop and execute the project plan outlined within the Memorandum," Rosneft said on Friday.