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Russia’s Bashneft to buy oil from Shell worth $1.4 bln

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Feb 7 (Reuters) – Russia‘s Bashneft said on Friday its board had approved a deal to buy oil from Shell worth up to $1.4 billion before February 2016.

Bashneft also said in a regulatory filing that it agreed to sell oil products worth up to $2.4 billion to oil trader Septo Trading, registered in the British Virgin Islands, before January 2015.

Bashneft, owned by Sistema oil-to-telecoms conglomerate, needs to buy oil to feed its refineries located in the Urals mountains region.

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