Rosneft, China in cooperation talks

On October 30-31, Rosneft Head Igor Sechin held talks on the development of the strategic cooperation with the People’s Republic of China in Beijing.

In particular, during the visit Igor Sechin met with Vice Premier of China Zhang Gaoli, Chairman of the Chinese National Petroleum Corporation (CNPC) Zhou Jiping and Chairman of Sinopec Fu Chengyu.

The parties confirmed that the cooperation between both countries and companies is of a long-term strategic nature and does not depend on external factors or external environment.

China and Chinese oil and gas companies are Rosneft’s most important partners in its operating activities. Cooperation between Rosneft and CNPC has been steadily developing since 2009.

Joint production projects with Sinopec have delivered good results. Cooperation in crude oil supplies is a promising area for the development of the partnership between Rosneft and Sinopec. Special attention was paid to the prospect of the transition to payments in national currencies under long-term supply contracts.

Following the negotiations, Igor Sechin said: “The People’s Republic of China and Chinese oil and gas companies are Rosneft’s most important partners in the areas of industrial cooperation, supplies and financing. Rosneft welcomes the interest of the Chinese companies in extending cooperation in the upstream sphere. The Company’s priority is to expand the scope and broaden the geographic reach of the cooperation with Chinese partners and develop new partnership areas.”

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