360° Coverage : Russia to boost crude supply to China

Russia to boost crude supply to China

Beijing, Feb 20 (IANS/RIA Novosti) Russian state-owned oil giant Rosneft has agreed to boost crude supplies to China, a spokesperson of the company said.

Feb 19 2013, 2:22pm CST | by

Russia to boost crude supply to China
Photo Credit: SERGEI KARPUKHIN, Getty Images

Beijing, Feb 20 (IANS/RIA Novosti) Russian state-owned oil giant Rosneft has agreed to boost crude supplies to China, a spokesperson of the company said.

The deal concludes a three-day visit by Rosneft President Igor Sechin to China.

Rosneft spokesperson Vladimir Tyulin, however, did not specify the amounts involved or delivery routes.

Rosneft and oil pipeline monopoly Transneft currently deliver 15 million tonnes of crude to China annually via a Russia-China branch of the East Siberia - Pacific Ocean pipeline under a deal signed in 2009. Deliveries started in 2011.

In return for long-term crude supplies, Rosneft received $15 billion and Transneft $10 billion in loans from Chinese banks in 2009.

-- IANS/RIA Novosti

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IANS

Source: IANS

 
 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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