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Saudi Aramco to sign memorandums with Gazprom, Gazprom Neft, Sibur

October 06, 2017/ 08:48

Moscow. Saudi Aramco will sign a bilateral agreement with Litasco, a subsidiary of Russian oil major Lukoil, and on October 6, will hold a meeting with Rosneft, head of Saudi Aramco Amin Nasser said in an interview with the Rossiya 24 TV channel.

"We will sign several memorandums of understanding with Gazprom, Gazprom Neft, Sibur, sign a trilateral agreement with the sovereign investment fund of Saudi Arabia and Russian Direct Investment Fund. An agreement is planned with Lukoil's subsidiary Litasco, tomorrow there will be a bilateral meeting with Rosneft, where we will discuss the possibility of signing agreements on future investments," he said.

Litasco is an international trader of Lukoil, registered in Switzerland in 2000. The company's branches are located in several countries, including the US, China, Iraq and India. In 2015, Litasco sold 71 million tonnes of oil and 94 million tonnes of oil products.

Saudi Aramco is the world's largest oil company which is valued at $5 trillion. The state-owned company plans to sell up to 5% of its shares in an IPO that may become the biggest in history.


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