6 Apr '09
Rosneft expects its $15bn share of a Chinese loan under February’s $25bn intergovernmental agreement in Q2-3 2009, Rosneft CEO Sergei Bogdanchikov said today.
An agreement on a $15bn loan for Rosneft and a $10bn loan for Transneft in exchange for annual 15-million-ton oil deliveries to China for 20 years was inked in mid-February 2009 as part of a Russo-Chinese intergovernmental contract for construction of a Chinese branch of the VSTO oil pipeline.
Mr. Bogdanchikov said earlier by April 10 Rosneft would sign a contract with Transneft for oil deliveries to honor the latter’s $10bn commitment under the intergovernmental agreement. It is Transneft that is building the VSTO and the Chinese branch.