Rosneft receives $15 billion advance payment for future oil supply

In the third quarter, Rosneft received about $15 billion as an advance payment for oil supplies - this is the biggest attraction of funds by a Russian company, fallen under the sanctions, since the beginning of the Ukrainian crisis. According to the interlocutors of the Kommersant on the market, the company began to choose the advance payment under the contract with China's CNPC. Analysts believe that the money attraction is good news for Rosneft: it removes the risk of reducing the investment program, required to maintain the production levels.

In the third quarter, Rosneft received 996.5 billion rubles of the prepayment under long-term contracts for the supply of oil, the company’s report under RAS informs. This is equivalent to $15 billion at the Central Bank’s exchange rate at the end of the third quarter. The company declined to comment, but according to the Kommersant’s interlocutors on the market, it’s most likely that the funds came from the Chinese company CNPC under the contract for the supply of oil for 25 years, signed in 2013. This is the largest fundraising by Russian companies, fallen under the sanctions, since the beginning of the Ukrainian crisis year and a half ago.