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Rosneft starts oil supplies to China’s Huaxin

Oil supplies will total 10 mln tonnes in 2018

MOSCOW, January 29. /TASS/. Rosneft initiated oil supplies to China’s national oil and gas corporation Huaxin, the Russian oil and gas major told TASS on Monday.

"According to the signed contract, deliveries of produced oil to Huaxin have already started. Oil supplies will total 10 mln tonnes in 2018. Deliveries of ESPO blend oil via the Kozmino Port are largely planned. Furthermore, deliveries of Urals and Sokol blend oil are also anticipated under the contract," Rosneft said.

Rosneft plans to boost oil deliveries to China and is already in talks with its Chinese partners, Chief Executive Officer of the company Igor Sechin said earlier in an interview with the Rossiya 24 TV Channel. Rosneft leaves room for increasing oil supplies to China via Kazakhstan, the top manager said. Rosneft asked Transneft for an increase of oil transit to China via Kazakhstan from 10 to 13 mln tonnes, official spokesperson of the Russian oil pipelines operator Igor Dyomin said in his turn.

It was reported earlier that Rosneft announced execution of the five-year strategic cooperation agreement with the China energy company Huaxin and the long-term contract for Russian oil supplies at the BRICS summit.

Huaxin is a vertically integrated company implementing oil and gas project in upstream, midstream, refining, sales and petroleum chemistry spheres.