Ashland

TNK-BP, Ashland Sign 5-Year Deal On Motor Oil Distribution In Russia

BP and US chemical company Ashland Inc.

(ASH) signed a five-year agreement under which the Russian company will distribute Ashland's Valvoline motor oil to the passenger car market in Russia.The companies didn't disclose the financial terms of the agreement."With access to 15,000 retail stores across Russia, TNK-BP offers unparalleled opportunities to introduce Russia drivers to the trusted Valvoline brand and our premium products," said Sam Mitchell, president of Ashland Consumer Markets, Wednesday. He added that Russia is the largest European market for passenger car lubricants, which is growing year on year.Valvoline will be able to achieve significant volume growth in Russia, Mitchell said.TNK-BP's executive vice president for downstream, Alfredo Barrios, called the signing of the contract "the beginning of a productive relationship between our companies."Copyright © 2012 Dow Jones Newswires...

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