Rosneft To Increase Oil Supplies To China Through Kazakhstan

Rosneft To Increase Oil Supplies To China Through Kazakhstan

Russian Rosneft and Chinese CNPC signed an amendment to the agreement envisaging additional oil supplies to China via Kazakhstan, the Russian company said.

Moreover the contract on oil supplies from June 21, 2013 was prolonged till Dec. 31, 2023.

Deliveries since Jan.01, 2017 till Dec. 31, 2023 will amount to 70 million tons, the company said.

The total volume of the supplies within the 10 years contract will reach 91 million tons including 21 million tons delivered previously.

Rosneft has a successful track record of implementation of oil supply contracts to China. In 2005- 2016 within the long-term contracts Rosneft delivered to China more than 186 million tons of oil worth over $95 billion.

The total volume of deliveries within long-term contracts will exceed 700 million tons. Rosneft is one of the leading suppliers of oil products to the Chinese market: in 2009- 2016 the company delivered about 30 million tons of oil products worth over $19 billion.

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