OREANDA-NEWS. In order to improve the effectiveness and activity transparency "Zarubezhneft" JSC and "Saint-Petersburg International Mercantile Exchange" CJSC agreed to implement the joint project on launching stock trading of the crude oil being produced by the enterprises of the Group of companies of "Zarubezhneft" JSC on the domestic market of the Russian Federation and to organize purchasing of the material and technical resources for the needs of "Zarubezhneft" JSC through the electronic trading platform of the Exchange "TEK-TORG".

According to the signed March 15, 2013 Memorandum of Cooperation between "Zarubezhneft" JSC and "Saint-Petersburg International Mercantile Exchange" CJSC and the plan of organizational arrangements representatives of the two companies will shortly coordinate the basic parameters of the stock trading, begin implementation of action plan for attracting potential stock trading participants – the buyers and carry out all necessary procedures for accreditation and connection "Zarubezhneft" JSC to the mercantile system of "SPIMEX" CJSC and to the clearing system of Settlement Depository Company (SDC) (CJSC), including signing the tripartite agreement of the supply inspector.

According to the project crude oil trading is scheduled for the second quarter of 2013.

Following the results of the first trading with its possible subsequent upgrade it is planned to transfer oil trading of "Zarubezhneft" JSC to the stock technologies on a regular basis and prepare the program of exchange trade of oil being exported by the company.

In addition, it is planned to record the off-exchange trade of oil, produced by the Group of companies of "Zarubezhneft" JSC on the domestic market of the Russian Federation.

After joint upgrade and marketing activities for potential suppliers the plan calls for the conclusion of the contract for operation procurement activities of "Zarubezhneft" JSC on the electronic trading platform of SPIMEX ("TEK-TORG").