OREANDA-NEWS. May 26, 2014. Within the Petersburg International Economic Forum Rosneft and RUSAL signed an Agreement of cooperation in the sphere of oil products supplies. The document was signed by Rosneft President, Chairman of the Managing Board Igor Sechin and the General Director of RUSAL Oleg Deripaska.

The agreement envisages the joint R&D in the sphere of the development, production and implementation of lubricant materials actual to RUSAL production facilities and the conclusion of contracts for supplies of a wide range of high-tech lubricant materials and technical fluids for the procurement of the industry facilities of RUSAL Group. Such a format of cooperation will allow RUSAL to optimize its shopping processes inside the Company and will led to the leverage of expenses in the future.

Moreover the document envisages the joint R&D in the sphere of the creation and implementation of modern solutions in the sphere of lubricant materials.

Commenting on the signing Igor Sechin said: “The quality of Rosneft’s lubricant materials has been highly praised by the biggest industry companies in Russia. We consider that the cooperation with RUSAL will be an additional boost to the development of lubricants production sector of the company. The experience of the implementation of our oil products at the RUSAL facilities will stimulate the creation of new products”.

Commenting on the signing of the agreements, Oleg Deripaska said: “The development of a long-term and mutually beneficial cooperation with Russia’s leading companies is one of our top priorities. The partnership with Rosneft will not only provide RUSAL’s plants with the raw materials required for the continued production of aluminium, but will also create a platform for the development of new products. This cooperation will help unite our efforts in improving the competiveness of Russian resource production and reduce our dependence on imports.”