RussNeft and Vneshtorgbank to Have Signed a Cooperation Agreement.
Vneshtorgbank and NK RussNeft OAO have announced of having signed a cooperation agreement. According to the joint statement, the document specifies the main trends of cooperation between Vneshtorgbank and RussNeft.
Specifically, the agreement stipulates cooperation in a number of business spheres including packaged bank service for the Company; formation of short-term credits, backing current activities of the Company; financial provision of RussNeft import operations, related to purchase of equipment, development and improvement of the Company’s international and internal settlements system.
In the framework of the signed agreement Vneshtorgbank shall take part in accomplishing current and stratigical goals of Russneft, furnish advice and information on banking and financing.
RussNeft is placed among the ten first-rate Russia’s oil and gas companies. It structures producing, refining and shipping companies, a retail network of petrol station in 13 regions of Russia and CIS. Total recoverable reserves of RussNeft exceed 600 million tons. In 2005 the Company shall increase it annual output in two times against the results of 2004 bringing it to 20 million tons.
In the framework of the signed agreement Vneshtorgbank shall take part in accomplishing current and stratigical goals of Russneft, furnish advice and information on banking and financing.
RussNeft is placed among the ten first-rate Russia’s oil and gas companies. It structures producing, refining and shipping companies, a retail network of petrol station in 13 regions of Russia and CIS. Total recoverable reserves of RussNeft exceed 600 million tons. In 2005 the Company shall increase it annual output in two times against the results of 2004 bringing it to 20 million tons.
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