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100 Mln Tons Of Oil Will Be Supplied To China
22.10.2013 15:24
100 Mln Tons Of Oil Will Be Supplied To China

Rosneft is going to sell 100 mln tons of oil to China. Rosneft and China's Sinopec agreed on annual shipments of 10 million tons of oil to China. The contract duration is 10 years, proved Igor Sechin, the Head of the Russian oil company. "The main conditions for the supply of 10 million tons of oil to the east as well as to the west for 10 years have been signed" – Igor Sechin said in China during the official visit. The head of Rosneft noted that the eastern route will provide the delivery of oil through the ESPO, while the western - by sea.

      Earlier, Sechin and the head of Sinopec signed a memorandum of the export contract on a prepayment basis. Sechin commented that 25-30% deposit “is a common condition, applied to our customers". The timetable for oil supply has also been confirmed by the company leaders.

      A significant increase in the supply of oil to China will be made in February, 2013. At present, Russia exports to China 15 million tons of oil annually with the help of Eastern Siberia - Pacific Ocean (ESPO) pipeline system. Earlier, Rosneft has attracted some Chinese partners to the extraction of oil and gas in Russia. 

Author: Anna Dorozhkina

Tags: Oil Rosneft Russian oil oil to China  

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