29 July 2014, Tuesday, 18:04

Bashneft concluded export contracts for $ 5.2 billion

author: Elvira Latypova

On Monday JSOC Bashneft signed major export contracts for supply of petroleum products, according to company materials.

The amount of transaction with British Demex Trading Limited is about 2.2 billion U.S. dollars. The contract with Swiss Vitol SA involves the delivery of oil for almost 3 billion U.S. dollars.

The parties' obligations under both contracts must be performed up to 31 August 2015.

JSOC Bashneft is a vertically integrated oil company operating in the regions of Russia and abroad. According to the results of 2013 it is the seventh largest oil producer (16.1 million tons) and the fourth — in terms of oil primary refining (21.4 million tons) among oil companies in Russia. The main shareholder is Sistema JSFC.