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Friday, June 27, 2014

Russia's Rosneft signs further oil products supply deal with BP, (NASDAQ: FISI)

Rosneft signed on Friday its second major agreement with BP since sanctions were imposed on the Russian oil company's chief executive, a close ally of President Vladimir Putin, over Russia's involvement in the Ukraine crisis.The five-year agreement will supply BP with up to 12 million tonnes of refined oil products and involves a pre-payment of at least $1.5 billion arranged by leading global financial institutions, Rosneft said.Rosneft's entire annual refinery production capacity stands at nearly 90 million tonnes, according to company figures.Some Western firms have been wary of investment and business in Russia since sanctions were imposed over the crisis in Ukraine, where Moscow denies accusations of orchestrating a rebellion by pro-Russian separatists.

Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI traded higher by 1.08% or $0.25/share to $23.33. In the past year, the shares have traded as low as $18.25 and as high as $26.59. On average, 44666 shares of FISI exchange hands on a given day and today's volume is recorded at 29533.