Lukoil inks cooperation deal with AvtoVAZ

Russian oil major OAO Lukoil and Russia’s largest carmaker AvtoVAZ announced that they have signed a fuel cooperation agreement that is valid from 2009 until 2012. Under the agreement, AvtoVAZ will buy gasoline, diesel fuel, motor oil and other oil products from Lukoil for its vehicles, assembly lines and technological equipment. AvtoVAZ will also recommend that its customers use Lukoil products. In addition, AvtoVAZ and Lukoil will participate in the creation and testing of new kinds of engine oils. In 2008, Lukoil supplied engine oils worth more than RUB350 million (US$10.86 million) to AvtoVAZ. (April 20, 2009)