Rosneft, Petrocas Energy (a Rosneft Group subsidiary) and Motor Oil Hellas Corinth Refineries signed a trilateral agreement concerning intents in the crude oil and oil product supply sector.
The document defines the intentions of the parties for arrangement of mutual supply of crude oil and oil products for the next 5 years and foresees the potential of increasing these volumes to 7.5 mmt (150.000 barrels a day).
The signed agreement brings the cooperation with Greek partners to a new level and sets a foundation for stable and long-term relations in the field of supply of crude oil and other products for Greek refineries. The document will also enable Rosneft to independently sell oil products produced at the refineries of Motor Oil Hellas using Petrocas Energy facilities.
Implementation of the agreement conditions will increase the cost-effectiveness of Rosneft oil and oil products marketing, at the same time, allowing the partner to offer flexible supply framework.
The agreement was signed within the framework of developing the partnership between Petrocas Energy and Motor Oil Hellas. The deal came as no surprise as in 2017 the supply and procurement of oil products from Rosneft amounted to over 2 mmt. Oil products were supplied to Motor Oil Hellas mainly using Rosneft resources.
Petrocas Energy is a regional player focusing on oil product logistics, trading and retail sales. The company owns and manages a high-tech oil loading terminal in Poti (Georgia) which performs logistical operations for oil products and petrochemicals, trading operations are focused in the Caspian Sea and in the Black Sea. The Company also manages the largest retail chain of fueling stations in Georgia (140 branded stations).
Motor Oil Hellas (MOH) owns one of the most advanced refineries in the world which is the largest private industrial facility in Greece with a Nelson index rating of 11.54. The refinery is certified and meets requirements of Environmental Management System (ISO 14001: 2004) and Quality Management System (ISO 9001:2008).
Refinery capacity is 13.5 mmt (crude, fuel oil, VGO, etc.), which accounts for 42% of total annual processing of crude oil in Greece.
MOH is the largest exporter of oil products in Greece with a market share of 75%.
In addition to crude oil refining the Group of Companies also distributes oil products and owns 100% in retail chains under the brands of Shell, Coral Gas, Avin and LPC (1,436 fueling stations, 35% of fueling business of Greece). The developed network of fueling stations allows for efficient retail sales on the domestic market and in the markets of the Eastern Mediterranean. The Group of companies owns 35 retail sites in the countries of the Balkan Peninsula and in Cyprus.