/ world today news/ Rosneft and the China National Petroleum Corporation (CNPC) switched to paying for raw materials in national currencies. This was stated in the press release of the Russian company published on June 16 after the meeting with CNPC at the Petersburg International Economic Forum (SPIEF).
„One of the key areas of cooperation between Rosneft and CNPC is the supply of oil, the volume of which, according to existing contracts, reaches 40 million tons per year. At the same time, companies have already switched to paying for raw materials in national currencies,” the statement said.
Rosneft also notes that its cooperation with CNPC has made a significant contribution to the achievement of the goal set by the leaders of the two countries, which includes achieving trade turnover between Russia and China in the amount of 200 billion dollars. The Russian company expects that the volume of mutual trade will exceed this level already in 2023.
Earlier, on March 22, the head of Rosneft, Igor Sechin, said that the company successfully interacts with CNPC in a number of areas and allows for the possibility of expanding cooperation, contributing to the energy dialogue between Russia and China. During the talks, the parties discussed issues of bilateral cooperation, including in the fields of exploration, production, oil supply and carbon emissions management.
On February 4, Rosneft and CNPC agreed to cooperate in the field of low-carbon development. This happened during the visit of Russian President Vladimir Putin to Beijing.
On the same day, Rosneft and CNPC signed an agreement to supply 100 million tons of oil to China through Kazakhstan for 10 years. The agreement was reached during the visit of the Russian delegation led by President Vladimir Putin to Beijing.
Translation: ES
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