Today the companies Rosneft and Socar Turkey Energy (Turkish "daughter" of the State Oil Company of Azerbaijan) signed an agreement on the basic conditions of supply of oil and petroleum products. This was stated by the Russian company.
The agreement was signed at the World Energy Congress in Istanbul.
According to the agreement, the parties will explore the potential of cooperation in the framework of a new oil refinery Star with a capacity of about 10 million tons, the construction of which is carried out by Socar Turkey Energy.
"The companies will consider the possibility of the organization of deliveries of production of Rosneft, particularly oil and other raw materials, to the enterprise," the press release says.
The range of products, as well as the size and timing of deliveries, will be determined within the framework of legally binding documents, which the parties plan to sign in the medium term.
In the medium term, Rosneft and Socar Turkey Energy also plan to sign agreements on quantities and dates of the deliveries.
Turkey is a net importer of oil (in 2015, oil imports grew by 43% YoY to 25.1 million tons due to the increase in the demand by the Turkish refineries). --12B--
Economics
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