Rosneft and CNPC are friends forever

State oil and gas companies of Russia and China Rosneft and CNPC have signed an agreement on further deepening the strategic cooperation.

At present, Russian Rosneft and Chinese CNPC are already cooperating on a number of directions. In particular this concern the supply of oil to China within of a long-term contract on export 360 million tons of black gold for 25 years, concluded last year. Rosneft also supplies  to China 15 million tons per year under a contract, signed together with Transneft in 2011, and will do this until 2034. The companies also cooperate in several joint ventures. Vostok Energy is engaged in geological exploration and production in the Irkutsk region. Vostok-Petrokhimiya builds Tyanzinsky refinery with capacity of 16 million tons per year, which will be launched at the end of 2019. More than half of the plant’s capacity will be designed to process Russian oil. It is also assumed to create a retail network of 300 stations in China.

During the held meeting of Rosneft and CNPC the further deepening of the cooperation was discussed. Let's consider in which areas it is possible.