Rosneft To Export Extra 180,000 Bpd Of Oil To China This Year

China has already outstripped Germany as Russia's largest buyer of oil with pipeline shipments totalling around 1.949 million in January, according to the Russian Energy Ministry.

Russia expects to export up to 5 million tonnes of oil to Germany in the first quarter.

Rosneft plans to further ramp up oil flows to China and has signed a memorandum with Sinopec with a view to supply it with 10 million tonnes of oil in the next 10 years.

The Rosneft spokesman said the company is still in discussions with Sinopec over a final oil-supply agreement.

"Currently, both sides are continuing work over adjustment of supply conditions. It is to early to speak about possible supply routes before the signing of the agreement," he said.

Rosneft has also been considering joint development with CNPC of Russia's vast offshore hydrocarbon resources.

Sechin told reporters on Thursday that Rosneft and CNPC are in discussions over "new proposals" on CNPC's participation in tapping Arctic and Far Eastern deposits.


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