18 Feb 2010 15:36

Bashneft signs agreement with Surgutneftegas for oil supply to Ufa-based refineries

MOSCOW. Feb 18 (Interfax) - Bashneft , the main enterprise in Bashkortostan's oil and gas production industry, has signed an agreement with Surgutneftegas for the supply of oil to Ufa-based refineries, the president of Bashneft, Viktor Khoroshavtsev, told Interfax.

The annual contract was signed in December 2009. The document foresees monthly supply of oil coming to 400,000 tonnes of oil to Ufa-based refineries.

It was earlier reported that in August 2009 Bashneft signed annual contracts with Lukoil for the supply of up to 400,000 tonnes monthly, TNK-BP - 200,000 tonnes of oil and Shell - 100,000 tonnes of oil.

According to the agreements with Bashneft and its suppliers, Khoroshavtsev said, contract terms can be changed depending on market trends and mutual arrangements between involved parties.

Ufa's oil refineries are currently operating at an optimal regime, he said, adding that Bashneft plans to keep refining at the same level as 2009 this year.

It was earlier reported that at the start of April 2009, Sistema completed the acquisition of controlling packets in the following enterprises in Bashkortostan - Bashneft, Ufaneftekhim , Novoil , Ufaorgsintez , Ufa Oil Refinery and Bashkirnefteprodukt. Sistema transferred management of these assets to Bashneft, through which Sistema plans to form a vertically integrated oil company.