VTB Bank, Rosneft Sign Strategic Partnership Agreement
OREANDA-NEWS. June 25, 2012. VTB Bank and Rosneft, Russia’s largest oil company, signed a strategic partnership agreement on corporate finance and investment banking services during a meeting at the St. Petersburg International Economic Forum, reported the press-centre of VTB Bank.
The agreement was signed on behalf of VTB Bank by Andrey Kostin, President and Chairman of the Management Board, and on behalf of Rosneft by Igor Sechin, President and Chairman of the Management Board.
In addition to closer ties in corporate finance and investment banking, under the agreement VTB Bank will make available to Rosneft a RUB 100 billion 5-year credit facility to finance the company’s regional projects.
During the signing ceremony Andrey Kostin said: “VTB’s partnership with Rosneft is based on long-term and mutually beneficial cooperation. Financing the leader of Russia’s oil industry is a good example of the support that VTB provides to the real sector of the Russian economy”.
Commenting on the agreement Igor Sechin said: "Rosneft is the leader of the Russian oil and gas sector with operations across Russia’s largest oil-producing regions. We are happy to have secured support from such reliable partner as VTB Bank".