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–

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From: Baghdasarian