29/11/2018
Press release: Rosneft and ChemChina Sign an Oil Supply Contract
29 November 2018
Rosneft and China National Chemical Corporation (ChemChina) signed an oil supply contract during the first Russian-Chinese Energy Business Forum. The contract provides for supplies of ESPO crude in the amount of up to 2.4 million tons through the Kozmino port for a year.
Conclusion of the contract will lead to an increase in direct supplies of oil to the strategic Chinese market and ensure a guaranteed cost-effective export channel for the Company's crude sales.
For reference:
ChemChina is one of the largest petrochemical companies in the world. The company's business is focused on oil refining, production of basic and special chemical materials, agricultural chemistry, rubber products, and chemical equipment.
In 2017, Rosneft supplied to China almost 40 million tons of oil, or 6.5% of the total crude imports of PRC.
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