Pursuant to the agreement, Lukoil will supply fuel oil and/or diesel to Energia Argentina (Enarsa). Lukoil supplies petroleum products in the international market through its affiliated companies, Switzerland-based Litasco and US-based Lukoil Pan Americas, which have experience in supplying diesel to Latin America. Enarsa is involved in oil and gas exploration and production, transportation, storage, refining and hydrocarbon marketing, as well as in other related sectors in Argentina and other Latin American countries. Pobater owns bulk plants and refineries in the province of Buenos Aires, Argentina. Vladimir Nekrasov, first vice president of Lukoil, said: "Our company actively operates in two countries of Latin America, namely, Colombia and Venezuela. We hope that the memorandum of understanding with the Argentine companies will promote mutually beneficial cooperation between the Russian Federation and the countries of Latin America."