The UK-based BP will purchased $2.9 billion worth of oil products from Russia’s Gazprom, according to a foreign media report.
BP held a nearly 20-percent stake in Gazprom, the second biggest shareholder next to the Kremlin. Gazprom’s board of directors recently approved a deal where Gazprom will sell 3.2 million tons of oil products to BP, including 660,000 tons of naphtha worth $700 million and 1.26 million tons of fuel oil worth $940.3 million. These products will be supplied by the refinery in Tuapse. Gazprom said that it would also sell 1.3 million tons of diesel worth $1.2 billion yuan, but it didn’t reveal the timetable.