China-Russia crude oil supply agreement signed: contract worths about $ 270 billion

According to RIA Novosti news on June 21, Rosneft CEO Igor Sechin and China National Petroleum Corporation Chairman Zhou Jiping, signed a long-term crude oil supply agreement with presence of Russian President Vladimir Putin and Chinese Vice Premier Zhang Gaoli.

According to reports, the agreement was signed within the Sino-Russia intergovernmental agreement signed under the framework set in March 2013. Igor Sechin has previously said that Rosneft planned to supply about 365 million tons of crude oil supply to China in the next 25 years, with a total value of approximately $ 270 billion.


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