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Rosneft, CNPC seal 25-year deal on Russian oil exports to China

June 21, 2013, 14:58 UTC+3
Under the contract Rosneft will export 360.3 million tonnes of crude to China
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Photo ITAR-TASS

Photo ITAR-TASS

ST PETERSBURG, June 21 (Itar-Tass) - Russian state oil giant Rosneft and China National Petroleum Corporation (CNPC) have signed a 25-year agreement on Russian oil exports to China.

Under the contract Rosneft will export 360.3 million tonnes of crude to China. Advanced payment exceeded $67 billion.

Rosneft and CNPC plan to step up cooperation in oil production and refining. The Tianjin refinery in China is a joint project of Rosneft and CNPC..

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