Russia’s Rosneft Inks Agreement to Supply Additional Oil to China

Vladivostok: Russia's Rosneft has signed an agreement with China to supply an additional 2.5 million tons of oil annually via Kazakhstan, Energy Minister Sergei Tsvelev announced at the Eastern Economic Forum. According to Yemen News Agency, Tsvelev revealed in an interview with Russia 24 that an agreement was reached with Rosneft's Chinese partners to ensure the additional oil supply, following Russian President Vladimir Putin's visit to China. In early May, the Russian government decided to increase the maximum oil supply limit for refineries in western China from 10 to 12.5 million tons, extending the supply period to a maximum of 2034. Russian Deputy Prime Minister Alexander Novak noted that the increase in supplies to China was initiated by the Chinese side, and Russia is prepared to accommodate this. Transneft is tasked with determining a list of technical solutions to expand oil exports via Kazakhstan. The 10th Eastern Economic Forum is being held from September 3 to 6 in Vladivostok at the Far Eas tern Federal University, under the theme: "The Far East - Cooperation for Peace and Prosperity."