Rosneft has approved a supply contract with BP worth $2.2 billion, says Vedomosti.

      The business daily quotes the Prime news agency as saying that the go-ahead has been given by the company's board of directors.

      Rosneft has become the world's leading publicly traded oil producer after it took over BP's Russian venture TNK-BP for $55 billion in March 2013. Rosneft has a vast and high-quality reserve base, with total proved hydrocarbon reserves of 22.8 billion barrels of oil equivalent. Moreover, Rosneft is second-to-none on an international scale in terms of total proved liquid hydrocarbon reserves. The company’s proved reserve-to-production ratio is 25 years.

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