Greek refinery group signs deal with Russia’s Rosneft

29 May 2016
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Greece’s state-controlled Hellenic Petroleum (EL.PE) refinery group on Friday signed a MoU for the purchase of crude oil from Russian oil provider Rosneft.

The agreement came during a same-day visit to Athens by Russian President Vladimir Putin, who was on hand at a signing ceremony along with Greek Prime Minister Alexis Tsipras.

Both refinery groups will also consider areas of mutual cooperation, as a relevant statement read, and will exchange know-how on production processes. The MoU has an initial duration of one year.

According to local media reports this week, Russian state-run companies are either interested in a possible tender for the further privatization of EL.PE – the biggest refinery group in Greece – or the Greek government is trying to attract Russian interest for a wide-ranging privatization program that institutional creditors have repeatedly demanded.

After his meetings with Tsipras and Greek president Prokopis Pavlopoulos, Putin is scheduled to meet with main opposition New Democracy (ND) leader Kyriakos Mitsotakis in the evening.

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