Russia’s Rosneft signs deal to boost oil supplies to China – reports

25 March 2013 04:00  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s state oil major Rosneft has signed a deal with China to increase its crude supply to China to 31m tonnes/year from the present 15m tonnes/year, media reports said over the weekend.

In return, the China Development Bank (CBD) will provide a $2bn (€1.5bn) loan to Rosneft for the deliveries for 25 years, Russian news agencies reported, citing Rosneft CEO Igor Sechin.

The deal was signed on 22 March during Chinese President Xi Jinping's visit to Moscow.

 ($1 = €0.77)

By: Fanny Zhang
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