Russia’s largest non-State oil company Lukoil will fuel the Vietnam Petroleum Import-Export Corporation (Petrolimex) with 500,000-600,000 tonnes of diesel oil every year under a long-term contract beginning in 2010.

The Nhan Dan (People) daily on Sept. 17 reported that Lukoil and the biggest fuel importer of Vietnam have inked a cooperation agreement on petroleum trading and relevant services.

Under the agreement signed on Sept. 16, Lukoil will hire the Van Phong Bonded Petroleum Warehouse under a long-term contract right after Petrolimex’s project completes its first phase, scheduled for 2011.

The two sides agreed to ensure sufficient supply for the 100,000 DWT Aframax oil tanker invested by Petrolimex.

They will also exchange information for further cooperation projects in Vietnam and regional countries.

The agreement has a duration of three years and will be prolonged by mutual consent./.