Rosneft and Pirelli increase Russian ambitions

ERJ staff report (TP)

Moscow – Rosneft said it is talking with Pirelli about further cooperation in synthetic rubber production in Russia.

Rosneft President, Chairman of the Management Board Igor Sechin to the Far East, held negotiations with Pirelli top management – including CEO Marco Tronchetti Provera.

The parties discussed issues related to the expansion of cooperation in the region of synthetic rubber production in Nakhodka (on east coast of Russia) and further supplies (within the Far East Petrochemical Company project). The parties also reviewed the strategy of further project development on sales and marketing in Russia.

Rosneft said on 18 May: “The strategic relationship of the companies and noted progress in implementation of projects in Russia provide room for expansion of cooperation in R&D and supply fields in the world market, where both companies, being global players, have firm positions.

“As previously reported Rosneft entities are continuing negotiations with Intesa Sanpaolo, Unicredit, Clessidra and Nuove Partecipazioni for the finalisation of binding agreements regarding contracts relative to the outline agreement.

“At the moment appropriate corporate actions have been taken, the transaction arranged, and it can be carried out obtaining the approval of the regulatory agencies.”

ERJ asked Pirelli to comment on this official statement from Rosneft, but the Italian firm said it had nothing else to add.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Rosneft