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Rosneft board approves oil deal with China's CEFC - source

Published 16/11/2017, 11:14
© Reuters. FILE PHOTO: A worker is seen at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk
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BEIJING (Reuters) - Russian state oil giant Rosneft's (MM:ROSN) board of directors has approved the 2018 annual deal to supply CEFC China Energy about 12 million tonnes of crude oil, a Chinese source with direct knowledge of the matter said on Thursday.

Of the total supply, CEFC expects to receive 8 to 10 million tonnes of ESPO crude from Russia's Far East, the source said.

The private Chinese conglomerate will start receiving oil from January, with volumes estimated at around 2 million tonnes for the first quarter.

© Reuters. FILE PHOTO: A worker is seen at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk

A CEFC spokesman couldn't immediately comment.

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