Rosneft heads to China to set new oil exports record


September 12 , 2017 – Fort Russ News – 

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KtovKurse – translated by Inessa Sinchougova

Head of Rosneft, Igor Sechin, said that the state company plans to deliver 40 million tons of oil to China in 2017.

In an interview with Rossiya 24, Sechin stressed that such a volume would be a historical record. Russia is the main supplier of oil to China.

In 2016, Rosneft sold to the Chinese market 34.5 million tons, accounting for about 30% of its exports and twice as much as three years earlier.

Sechin pointed out that the growth was due to cooperation with the Chinese oil and gas corporation CNPC. The corporation acquired 80% of all Rosneft oil supplied to China.

According to the General Customs Administration, from March to July 2017, Russia also retained leadership, although in the first quarter, the first place was occupied by Saudi Arabia.

In May, at the “One Belt – One Way” forum, Sechin spoke at the talk on the prospects of exploration and production of hydrocarbons in the regions of Eastern Siberia, Yakutia and on the shelf of the Sea of ​​Okhotsk, close to China.

At the beginning of the year, Rosneft and CNPC signed an agreement extending the operation of the contract on the transit of oil through Kazakhstan for five years. The parties agreed to increase fuel supplies by 56 million tons.

Thus, until 2023, more than 70 million tons of crude oil will flow from Russia to China. Rosneft plans to increase oil exports to China to 91 million tons over the next ten years.

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