Gazprom neft launches tender system for oil products

Starting in 2007 Gazprom neft will sell all oil and petrochemistry products on tender basis.

On December 15 Gazprom neft held its first tender to sell oil, petrochemisry products and liquefied petrol gas. The analysis of tender results was completed on 19-20 of December and was found satisfactory. Next Gazprom neft plans to launch electronic tenders.

Tender system is intended to help the company achieving maximum efficiency of buy and sells transactions and will achieve principle of resource availability for counterparties.

The approach of offering oil products through tender systems is successfully used by many oil-companies in the world, because it makes the competitive bidding process open and transparent and also reduces corruption and reputation risks.