Rosneft and Chinese CNPC switched to paying for raw materials in national currencies
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Rosneft and China National Petroleum Corporation (CNPC) switched to paying for raw materials in national currencies, reported press office Russian company.
“One of the key areas of cooperation between Rosneft and CNPC (CNPC.— “b”) are oil supplies, the volume of which, in accordance with existing contracts, reaches 40 million tons per year. At the same time, companies have now switched to paying for raw materials in national currencies,” Rosneft said in a statement.
The press service reported that Rosneft CEO Igor Sechin met with CNPC Chairman Dai Houliang as part of the St. Petersburg Economic Forum. They discussed the prospects for the implementation of joint mining projects and cooperation in the technological field, according to a press release.
It is noted that an important area of cooperation between Rosneft and CNPC is the organization of the Russian-Chinese energy business forum. The fifth anniversary forum will be held this fall, the press service said.
Rosneft entered into a long-term oil supply contract with CNPC in 2013, and in 2022 extended it until 2034. The new agreement provides for the transportation of 10 million tons of oil annually through the Atasu-Alashankou pipeline, which passes through Kazakhstan.
Read more about the agreement between Rosneft and CNPC in the material “Rosneft will not stop in Kazakhstan”.
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