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Rosneft, CEFC ink partnership

Written by  AOG Staff Sunday, 03 September 2017 21:10
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Rosneft and CEFC China Energy have signed an agreement for the supply of Russian crude oil to the Chinese market, opening up new opportunities for a strategic partnership.

The contract will see an increase in direct supplies of crude oil to China, as well as joint collaboration in exploration and production projects in Western and Eastern Siberia, and refining, petrochemicals and crude and product trading.

Igor Sechin, Rosneft CEO said the deal fully reflects the company's strategy, which priorities include strengthening relations with Asia Pacific countries and, in particular, China.

"We continue our work on strengthening the relationship with our strategic partners, including certainly CEFC, the largest Chinese private energy company, aiming for a long-term cooperation in all the areas of Rosneft’s business activity,” he said.

CEFC president Chan Chauto believes that the Russian oil and gas sector has tremendous potential for integrated cooperation.

“We will use our trading capability and build up the supply of Russian crude to the fast-growing Chinese market. In addition, we are planning joint investments in the strategically important projects in the Russian oil and gas sector,” he said. 

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