Market Watch: Russia To Supply Oil To China in $270 Billion DealSubmitted by emalvini on Fri, 06/21/2013 - 11:48
Market Watch: Russia To Supply Oil To China in $270 Billion Deal
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June 21, 2013, 9:13 a.m. EDT
By Polya Lesova
NEW YORK (MarketWatch) -- Russia's state-controlled oil firm Rosneft has agreed to an oil-supply deal with China valued at $270 billion, according to media reports on Friday. Rosneft will provide China with 300,000 barrels per day over 25 years, in addition to the 300,000 barrels per day it already supplies to the Asian nation, Reuters reported on Friday. Rosneft Chairman Igor Sechin said the estimated value of the deal is $270 billion, according to the report.