Lukoil, Bashneft sign agreement on cooperation
Lukoil (RTS: LKOH) and Sistema-Invest, which manages the assets of Bashneft (RTS: BANE) and other companies working in the fuel and energy sector of the Republic of Bashkortostan, have signed an agreement on cooperation, Interfax reports.
Under the agreement, which was signed by Lukoil President Vagit Alekperov and Sistema-Invest general director Viktor Khoroshavtsev, Lukoil will supply oil to a group of Ufa-based oil refineries and the companies will also make counter deliveries of refined oil products and petrochemicals for export and to the domestic market.
The agreement took effect immediately and will remain in force until August 1, 2010 with the possibility of being extended.