OREANDA-NEWS. Rosneft and Grupa Lotos S.A. agreed to extend the сontract for oil supplies to Poland signed on December 20, 2013. The updated commercial terms and conditions envisage a year extension of the сontract (till December 31, 2017) and increase of supplies by 300 thousand tons to reach 2.7 million tons of oil per year.

The agreement to continue cooperation with Lotos proves the quality of Rosneft’s partnership relations with major consumers in traditional regions of Russian oil sales (this is Company's second large contract for oil supplies to Polish consumers signed in December 2015-January 2016). Access to infrastructure channels of supplies, and particularly to the Druzhba oil pipeline, provides for uninterrupted crude delivery to European refineries maximizing their economic efficiency.

The increase of oil supplies complies with Rosneft’s strategy of creating the shareholder value via improved efficiency of oil sales as well as meets consumers' interests and enhances energy security of Europe.