Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact us
Customer Login
 


Headlines
 

02/19 05:05   Russia political and economic calendar: February 19
 
02/19 05:00   INTERFAX RUSSIA AND CIS BUSINESS AND FINANCIAL NEWS
 
02/18 23:11   Hague court ruling in favor of Yukos ex-shareholders is unjust - Slutsky
 
02/18 23:05   Entry to Russia for Chinese citizens to be suspended starting Feb 20 (Part 3)
 
02/18 22:57   Govt could be given powers to preserve traditional family values
 
02/18 22:52   Court ruling regarding Yukos should not be executed in Russia - Klishas
 
02/18 22:49   Austrian justice minister to decide on ex-official Mazo's extradition to Russia
 
02/18 22:43   Four candidates registered for post of RusAF president
 
02/18 22:40   All those quarantined near Tyumen test negative for coronavirus - authorities
 
02/18 22:34   Udaltsov appeals with ECHR Grand Chamber re small compensation in Bolotnaya case - lawyer
 




 

Interfax.com  |  Interfax news  |  Rosneft to ship extra 2 mln t of oil to China via...


News headlines


March 27, 2013 11:14

Rosneft to ship extra 2 mln t of oil to China via ESPO branch in 2014

DURBAN. March 27 (Interfax) - Russian state oil major Rosneft (RTS: ROSN) will ship an additional 2 million tonnes of oil to China along a branch of the Eastern Siberia - Pacific Ocean oil pipeline (ESPO) in 2014 and will gradually increase such shipments to 15 million tonnes by 2018, Energy Minister Alexander Novak told reporters.

"There will be a cumulative schedule for the Skovorodino-Mohe [pipeline branch]. There will be 800,000 tonnes this year, next year an additional 2 million tonnes, and cumulatively to reach up to 15 million tonnes by 2018," Novak said.

A source at a relevant government agency told Interfax that 800,000 tonnes will be shipped from July 1 to December 31, 2013. He said that if additional oil shipments to China total 2 million tonnes in 2014, in the subsequent three years they will amount to 5 million tonnes annually. From January 1, 2018 to December 31, 2037 additional shipments will reach 15 million tonnes per year, and 7.5 million tonnes will be shipped in the first half of 2038.

However, in order to expand oil shipments via the Skovorodino-Mohe pipeline Russia will have to create the conditions for the timely overhaul and expansion of the branch, while China will have to implement similar measures for the Mohe-Daqing pipeline by January 1, 2018. The countries would have to overhaul the Skovorodino-Mohe pipeline by January 1, 2015 to accommodate the increase in oil shipments to 5 million tonnes.

The source said agreements do not specify the source of additional crude supplies.

Novak also said that, with shipments of low-sulphur oil to the east increasing, the Energy Ministry is working on maintaining the quality of Urals crude shipped west.

"We intended to pursue such a policy so that the quality of oil on western and eastern routes meets contractual obligations," the minister said.

He said the plans to ramp up pipeline shipments of oil to China do not eliminate the goal of creating a benchmark ESPO oil grade. "We are also setting such a goal for ourselves - to make it an exchange benchmark, but this is not a simple matter, an appropriate amount of oil must be sold for this. Exchange trading of oil must be organized for this. We are now in the process, we've created a working group and it is already working according to a certain schedule," Novak said.

Russia is supplying China with 15 million tonnes of oil annually via a spur of the Eastern Siberia - Pacific Ocean pipeline (ESPO). Rosneft and Russian oil pipeline company OJSC Transneft (RTS: TRNF) concluded 20-year agreements in 2009, under which deliveries began on January 1, 2011. In return for the long-term deliveries, Rosneft received from Chinese banks a credit of $15 billion and Transneft obtained one of $10 billion.

China has several times raised the question of ramping up oil supplies from Russia, particularly in order to facilitate the implementation of the Tianjin oil refinery project, which Rosneft and its Chinese colleagues are planning to build with a 10-million-tonne capacity.

Rosneft president Igor Sechin said last week that his company had reached an agreement with China to gradually increase oil shipments. He said the new agreement calls for increasing shipments in line with infrastructure capabilities to a peak of up to 31 million tonnes along three routes. The company is also raising $2 billion from China Development Bank secured by oil supplies for a period of 25 years.

Sechin said shipments would increase from Rosneft's existing resource base. In future, Rosneft will launch new fields in Eastern Siberia and thereby also increase oil shipments to China.

Vp eb

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Natural Gas Daily
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire
Please enter the digits from picture in the box below:

February 18, 2020
 
23:11
Hague court ruling in favor of Yukos ex-shareholders is unjust - Slutsky
 
23:05
Entry to Russia for Chinese citizens to be suspended starting Feb 20 (Part 3)
 
22:57
Govt could be given powers to preserve traditional family values
 
22:52
Court ruling regarding Yukos should not be executed in Russia - Klishas
 
22:49
Austrian justice minister to decide on ex-official Mazo's extradition to Russia
 
22:43
Four candidates registered for post of RusAF president
 
22:40
All those quarantined near Tyumen test negative for coronavirus - authorities
 
22:34
Udaltsov appeals with ECHR Grand Chamber re small compensation in Bolotnaya case - lawyer
 
22:26
Observation facility for Ukrainians evacuated from Wuhan to be guarded round the clock - Ukrainian health minister
 
22:18
 
22:13
Bastrykin tasks Investigative Committee with promptly establishing motives of Kerch teenagers plotting terror attacks
 
22:09
Russian president could be given powers to generally supervise government
 
22:04
Constitutional amendments could lead to dual power in Russia - Narusova
 
21:57
Last 'Moscow Case' defendant Barshai given 3-year suspended sentence (Part 2)
 
 more headlines 



Interviews
 

.
New U.S. Ambassador to Russia John Sullivan, who has recently started his mission in Moscow, has given an interview to Interfax in which he speaks about priorities of his work and assesses the prospects of developing bilateral relations.

more
.
.
The En+ Group effectively turned a new page in its corporate history in 2019. Now the group has a unique governance scheme for Russia - without a domineering shareholder and a loyal majority on the board of directors. The board chairman, Lord Gregory Barker, is convinced that the changes adopted in the framework of the plan he devised to get the company removed from the U.S. sanctions list will ultimately do the company and its shareholders good, irrespective of the deal with OFAC. Lord Barker told Interfax in an interview about the work of the new En+ board, dividends and long-term strategy.

more
.
.
Ambassador of the United Kingdom to Russia Laurie Bristow, who is leaving his post, has given an exclusive interview to Interfax in which he speaks about prospects of relations with Russia, arms control, the situation in Syria and surrounding Iran, as well as other topical problems on the international agenda.

more

 
  
 ©   1991—2020   "Interfax News Agency" JSC. All rights reserved.
Contact information   |   Privacy Policy   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100