MOSCOW, Oct 30 (PRIME) -- Russian oil major Rosneft can start shipments of up to 100 million tonnes of oil to CITIC Resources, an affiliate of Chinese fund CITIC, business daily Vedomosti reported on Tuesday, citing sources close to the participants of the negotiations.
CITIC Resources can receive the shipments earlier meant for private company CEFC China which signed a contract to buy oil from Rosneft in September 2017 but went bankrupt. A source said that CITIC can sign the same contract with Rosneft without participation of CEFC but the sources did not elaborate on the exact mechanism of the contract cession.
If the deal is signed, CITIC will account for 20% of Rosneft’s oil exports to China.
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