Lukoil and Chevron Oronite sign lubricating oil additives master supply agreement
Published:
16 November 2001 y., Friday
The Caspan News Agency received press release of Chevron company rading: "OAO LUKOIL Oil Co. and Chevron Oronite Co. LLC, have signed a Master Supply Agreement (MSA) covering the supply of Chevron Oronite lubricating oil additives to LUKOIL.
The MSA is related to the commercial and technical discussions the companies have been carrying out since signing a Protocol of Intentions in December 2000, aimed at forming a joint venture to manufacture lubricating oil additives in one of the LUKOIL’s refineries. The joint venture would include marketing Chevron Oronite additives in Russia and other CIS countries.
According to OAO LUKOIL Oil Co. Vice President Vladislav P. Bajenov, responsible for the refining sector of the company, "the MSA helps LUKOIL maintain the high level of satisfaction of its customers with high quality, cost efficient lubricants."
Patrice Vignau, president of Chevron Oronite S.A. and responsible for the Europe, Africa and Middle East region of Chevron Oronite, said that "OAO LUKOIL has its own additives production at two Refineries in Volgograd and Kstovo. The MSA facilitates the smooth transition of LUKOIL finished lubricating oil formulations to the Chevron Oronite technology used by the proposed joint venture. ORONITE additives supply to OAO LUKOIL’s Refineries is the first stage of co-operation with Chevron Oronite Co. LLC. The second stage is formation of the JV."
Chevron Oronite Co. is a leading manufacturer and marketer of lubricant and fuel additives worldwide. It is a subsidiary of ChevronTexaco Corp. and is headquartered in Houston, Texas, USA. LUKoil supplies approximately 50 percent of the Russian lubricants market.
ChevronTexaco and LUKoil are also partners, and the largest private shareholders, in the Caspian Pipeline Consortium (CPC). This 1,580 kilometer pipeline runs from Tengiz, Kazakhstan, on the Caspian Sea to Novorossiysk on the Black Sea. This first phase of CPC is expected to cost around $2.6 billion and will have an initial capacity of 28 million tons a year (600,000 barrels per day). The first tanker loading was completed on October 15. ChevronTexaco and Lukoil also have interests in the Tengiz oil field and Karachaganak gas/condensate field in Kazakhstan.
Šaltinis:
caspian.ru
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »