BEIJING/MOSCOW — Russian state-owned company Rosneft announced Thursday that it has signed energy deals with a pair of Chinese energy counterpar
Source: asia.nikkei.com
Rosneft announced recently that it has entered into an energy deal with a couple of Chinese energy firms in a move to diversify amid the trade was with the U.S. China National Chemical (ChemChina), has agreed to purchase 2.4 million tons of crude oil a year from Rosneft. This would be equivalent to 6% of Rosneft’s total exports to China in 2017. Rosneft will also form a joint venture with Beijing Gas Group to operate filling stations in Russia for natural gas-fueled vehicles. Beijing Gas, a unit of state-owned Beijing Enterprises Group, will take a stake of nearly half in the venture and provide expertise on setting up and running the gas stations. This deal comes just days before Chinese President Xi Jinping is scheduled to meet with Russian counterpart Vladimir Putin in Argentina on the sidelines of the G-20 summit.
