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6

China Agreed To Pay More For Russian Crude

China National Petroleum Corp, the country's top oil and gas producer, has agreed to pay an increased price for crude oil supplied by Russian state oil giant Rosneft

China National Petroleum Corp, the country's top oil and gas producer, has agreed to pay an increased price for crude oil supplied by Russian state oil giant Rosneft.

Thus the contact signed in 2004 was upgraded, due to increaed global energy prices all over the world since 2004. Under the contract, Russia is to supply about 50 mln tons of oil to China to 2010.

The report did not reveal the new price, saying only that the agreed price rose by 0.675 usd per barrel.