Oil supply to China through Kazakhstan to increase

Oil supply to China through Kazakhstan to increase

10 January, 11:52 320
Oil supply to China through Kazakhstan to increase

Rosneft agreed with the Chinese CNPC about prolongation of the delivery contract of oil in the People's Republic of China through Kazakhstan and additional deliveries of 56 million tons of oil.

As a result in 2017-2023 along this route 70 million tons in addition to 21 million tons which are already brought in 2013-2016 will be delivered, the largest Russian oil company reported.

Rosneft and the Chinese national oil and gas corporation (CNPC) signed the supplementary agreement about increase in an oil supply en route through the territory of Kazakhstan and prolongation of the duration of the contract concluded on June 21, 2013 till December 31, 2023. Deliveries to the period will constitute from January 01, 2017 to December 31, 2023 70 million tons, at the same time the total amount of an oil supply under the above-stated contract, taking into account earlier directed 21 million tons, will reach 91 million tons for the 10-year period," the message of Rosneft says.

The representative of the company explained that increase in an oil supply will constitute 56 million tons, writes the PRIME.

Rosneft has experience of implementation of delivery contracts of oil to China, is noted in the message. So, during the period from 2005 to 2016 Rosneft signed a number of long-term contracts within which already delivered more than 186 million tons of oil on the amount of more than 95 billion dollars. The total volume of deliveries within long-term agreements will exceed 700 million tons of oil.

Also Rosneft is one of leaders of supply of oil products to China. From 2009 to 2016 the company delivered about 30 million tons of oil products on the amount of more than 19 billion dollars.