Rosneft, Armenia’s Oil Techno sign joint venture agreement

Rosneft, Armenia’s Oil Techno sign joint venture agreement

YEREVAN, December 3. /ARKA/. Major Russian oil company Rosneft and Armenia’s Oil Techno closed joint stock company have signed an agreement about a new joint venture, the Russian company reported.

The main aim of the new enterprise is to ensure stable and high-quality oil supplies to Armenia through wholesale and retail networks and to develop the required storage and distribution infrastructures in the Republic of Armenia, says the report.

The document has been signed in the presence of the two countries’ presidents Vladimir Putin and Serzh Sargsyan and has become the next step in implementing the previous agreement about a joint venture in marketing and distribution signed between the sides on April 4 2013, Novosti-Armenia reports.

Last year Commersant newspaper, referring to its sources, said Rosneft was considering the possibility of becoming the main supplier of oil products to Armenia through a joint venture. –0--

12:14 03.12.2013

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