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Rosneft Agrees To Sign Crude-Supply Contracts With Glencore Int'l, Vitol

Rosneft Plc (ROSN.L) Monday said it has agreed to the head of terms of a long-term contract with Glencore International Plc and Vitol.

Under the heads of terms, Rosneft has agreed to sign a five-year contract with a prepayment, to supply up to 67 mln tonnes of crude in total. The supplies are expected to commence in 2013.

The parties agreed the possibility of replacing crude supplies with respective petroleum product supplies for various supply routes.

by RTT Staff Writer

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