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The CEO of Rosneft (LSE:ROSN) may be under sanctions, but that hasn’t stopped BP (NYSE:BP) from making a major oil supply deal with the Russia based company, Reuters reported today. Rosneft stands to receive about $1.5 billion in pre-payments from the deal, which follows a previous shale exploration deal between the two companies, according to Reuters.
The CEO of Rosneft (LSE:ROSN) may be under sanctions, but that hasn’t stopped BP (NYSE:BP,LSE:BP) from making a major oil supply deal with the Russia based company, Reuters reported today. Rosneft stands to receive about $1.5 billion in pre-payments from the deal, which follows a previous shale exploration deal between the two companies, according to Reuters.
As quoted in the publication:
The five-year agreement will supply BP with up to 12 million tonnes of refined oil products and involves a pre-payment of at least $1.5 billion arranged by leading global financial institutions, Rosneft said.