Sistema reports arrest of its stakes in MTS, Medsi, BES as part of dispute with RosneftBusiness & Economy June 26, 20:58
Russian submarine successfully test-fires Bulava intercontinental missileMilitary & Defense June 26, 19:20
Rosneft and RBC reach friendly settlement on defamation lawsuitBusiness & Economy June 26, 18:50
Number of centers issuing FAN IDs to be increased ahead of FIFA Confederations Cup FinalSport June 26, 18:33
News about anti-doping probe against Russian football team players is fake — executiveSport June 26, 18:25
Putin refers to State Duma Council of Europe convention against financing terrorismRussian Politics & Diplomacy June 26, 18:15
Russia to lay down 2 diesel-electric submarines for Pacific Fleet in JulyMilitary & Defense June 26, 18:07
Russia’s Khramtsov wins first gold at 2017 World Taekwondo ChampionshipsSport June 26, 18:03
Russian Navy to get four frigates by 2020Military & Defense June 26, 17:41
MOSCOW, August 29 (Itar-Tass) - Rosneft CEO Igor Sechin will participate in the next round of talks with the Chinese National Petroleum Corporation (CNPC). The partners will discuss marketing issues related with the construction project of an oil refinery in the Chinese city of Tianjin, a source acquainted with the agenda of an upcoming visit told Itar-Tass.
“The main goal of the talks for Rosneft is to enter the Chinese retail market through the joint venture Vostok Neftekhimiya, including the participation of the joint venture in the development of the network of gas stations (up to 300 gas stations),” the source said. Meanwhile, he did not rule out, “If corresponding agreements are not reached, some part of produce of the oil refinery may be exported.”
The intergovernmental agreement over the construction project of an oil refinery in Tianjin was signed in the spring of this year. The joint venture Vostok Neftekhimiya, in which Rosneft owns 49% of stock and CNPC – 51% of stock, is implementing the project. The oil refinery is expected to refine 13 million tons of oil annually, about nine million tons of which will make Russian oil. The oil will be delivered by tankers to the terminal at the port of Tianjin and will be pumped through the oil pipeline at a distance of about 42 kilometers to the oil refinery. Light oil products will make more than 80% of overall output at the oil refinery under the project.