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Rosneft, Armenia's Oil Techno Sign Shareholder Agreement On Fuel JV

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  • Rosneft, Armenia's Oil Techno Sign Shareholder Agreement On Fuel JV

    ROSNEFT, ARMENIA'S OIL TECHNO SIGN SHAREHOLDER AGREEMENT ON FUEL JV

    Interfax, Russia
    Dec 3 2013

    YEREVAN/MOSCOW. Dec 3

    Rosneft (MOEX: ROSN) and Armenia's Oil Techno have signed the
    shareholders agreement for a joint venture that will supply Armenia
    with fuel.

    Rosneft said in a press release that its president, Igor Sechin,
    and Arthur Alaveryan, president of Oil Techno, signed the agreement.

    "The JV's primary objective will be to provide Armenia with stable
    supplies of high quality petroleum products through wholesale and
    retail operations within the territory of the country as well as
    through the development of corresponding infrastructure for storage
    and distribution of petroleum products in Armenia," Rosneft said.

    "The agreement, signed in the presence of Russian President Vladimir
    Putin and his Armenian counterpart Serzh Sargsyan, is a step forward
    in implementation of the cooperation agreement seeking to set up a
    joint venture in marketing and distribution, which was signed between
    the parties on April 4, 2013," Rosneft said.

    Oil Techno was founded in November 2012 and supplies lubricants
    to the Russian market for farmers, transport enterprises and food
    industry enterprises.

    Pr of


    From: Baghdasarian
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