March 6 Rosneft, Russia's top crude
producer, has signed long-term crude supply contracts with
commodity traders Glencore International and Vitol
for supply of up to 67.0 million tonnes of crude.
The deal entails a $10 billion prepayment to Rosneft before
The agreement, which was signed on March 4, envisages supply
volumes of up to 46.9 million tonnes of crude for Glencore, and
up to 20.1 million tonnes for Vitol, Rosneft said in a release
dated March 6.
Bankers had told Reuters on Jan. 28 that Glencore and Vitol
asked banks for a $10 billion syndicated loan to finance the
purchase of up to 67 million tons of crude oil from Russian
Rosneft agreed long-term crude supply contracts with
Glencore and Vitol in December as it sought funds to finance its
$55 billion takeover of TNK-BP.