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Article: Loyal Partners: Rosneft Keeps Faith With Core Traders As Exports Expand.
- Article from:
- NEFTE Compass
- Article date:
- May 17, 2006
CopyrightCOPYRIGHT 2006 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Rosneft is striving to reach its strategic goal of exporting up to 85% of its crude and oil products, but it is not going to change its practice of selling most of its volumes on a spot basis to a core group of companies. Rosneft Vice President Dmitry Bogdanov named those companies as Vitol, Gunvor International, Petraco and Daxin Petroleum.
"We have been working with these companies for many years, they satisfy our needs," Bogdanov said at a presentation this week, adding that Rosneft's "export policy, except for the contract with China, is based on short-term agreements," and that long-term deals are not generally part of the state-owned major's strategy.
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