Russian official pledges incentives for joint oil projs with China

SOCHI, May 30 (PRIME) -- The Russian government is ready to consider providing incentives for oil projects with China, Deputy Prime Minister Arkady Dvorkovich told reporters Monday.

“In the oil sector, we have discussed an increase of crude oil supplies to China. We are continuing a work on expanding pipeline capacities: we were assured that all necessary actions by the Chinese side will be completed by the end of 2017 and supplies of up to 15 million tonnes of oil via the pipeline could start in 2018,” he said.

“Companies reach various agreements with each other and will apply for preferences. We will certainly consider and provide preferential terms where it corresponds with the legislation,” he said.

Russia and China have also discussed China’s possible participation in oil major Rosneft’s privatization, Dvorkovich said.

“We welcome participation of Chinese partners. I think it will be a quite competitive deal, that’s why we will see who participates,” he said. “We have not discussed a stake, because this is a commercial issue,” he said.

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