Rosneft Plans $60 Billion Oil Supply Deal With China, Putin Says
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OAO Rosneft, the world’s biggest oil producer by output, plans to sign an “unprecedented” $60 billion contract to supply crude to China, according to Russian President Vladimir Putin.
China may become Russia’s biggest oil customer after signing the contract, following a government accord in April. Rosneft may sign that deal as well as a crude supply agreement with PKN Orlen SA’s Czech refining unit and liquefied natural gas accords with Japan’s Marubeni Corp. and Sakhalin Oil & Gas Development Co. at the St. Petersburg International Economic Forum this week, two people with knowledge of the plans said.