First long-term contract for Russian crude oil (REBCO) deliveries
UNIPETROL, a.s. informs that on 21 June 2013 PKN ORLEN S.A. signed an agreement with Rosneft Oil Company,Moscow,Russia, for Russian Export Blend Crude Oil (REBCO) deliveries, in the quantity of maximum 8.28 million tonnes to UNIPETROL RPA, s.r.o. The agreement is valid from 1 July 2013 to 30 June 2016.
The contracted volumes can cover from 60% to 100% of UNIPETROL's total demand for REBCO crude depending on the economics of the contracted deliveries relative to the conditions prevailing on the crude oil market at a given time. The agreed volumes of REBCO crude will be delivered to theCzechRepublicby Rosneft Oil Company through the Druzhba Pipeline.
UNIPETROL RPA, s.r.o. and PKN ORLEN S.A. are currently undergoing negotiations to finalize a crude oil supplies agreement in relation to the above mentioned agreement between PKN ORLEN S.A. and Rosneft Oil Company.
PKN ORLEN S.A. is the majority shareholder of UNIPETROL, a.s. with a 62.99% shareholding.
UNIPETROL, a.s. holds 100% of the registered share capital in UNIPETROL RPA, s.r.o.
UNIPETROL RPA, s.r.o. within its Business Unit 1 – Refinery (BU1) plans and controls crude oil processing at ČESKÁ RAFINÉRSKÁ, a.s. in accordance with ownership rights of UNIPETROL, a.s. (51.22% shareholding), with a specific focus on the requirements of the downstream production processes in the Unipetrol Group. It is responsible for the purchase of crude oil for the Group’s refineries and also for the wholesaling of motor fuels and other refinery products.
In Prague, 21 June 2013
UNIPETROL, a.s.
Reg. Announc. No. 15/2013
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