VLADIVOSTOK, Russia (Reuters) -Russia's largest oil producer Rosneft has secured an additional deal on supply of 2.5 million metric tons of oil per year to China via Kazakhstan, Interfax news agency
Rosneft Secures 2.5 Million Tons of Oil Supply to China via Kazakhstan
Rosneft's Oil Supply Agreement
VLADIVOSTOK, Russia (Reuters) -Russia's largest oil producer Rosneft has secured an additional deal on supply of 2.5 million metric tons of oil per year to China via Kazakhstan, Interfax news agency quoted Russian Energy Minister Sergei Tsivilev as saying on Thursday.
Strengthening Ties with China
Russia has deepened trade and political ties with China following the rift with the West over the conflict in Ukraine. China and India have become largest buyers of Russian oil in the past several years.
Details of the Oil Transit
Interfax reported in May, citing Russian Deputy Prime Minister Alexander Novak, that China had proposed Russia to boost oil transit via Kazakhstan by 2.5 million tons per year.
Impact on Oil Production
In 2024, the transit totalled 10.2 million tons, or around 204,000 barrels per day.
(Reporting by Vladimir Soldatkin and Darya Korsunskaya; Editing by Jacqueline Wong/Guy Faulconbridge)
