VTB Bank has opened a credit facility for Bashkortostan based oil trader Atek with a limit of RUB 5 billion to help the company service its supply contracts.
Atek is an oil and refined products trader operating in Russia’s domestic market. Established in 2001, until 2009 it focused mainly on oil refining in Ufa, the capital of Bashkortostan, processing up to 2 million metric tons of crude oil a year at its local facilities.
At the same time, the company has also expanded its trading business as a professional oil and product market operator. Trading volumes have been growing steadily and now exceed 600,000 tons of oil and refined products a month.