Rosneft will make the investment decision about oil refinery in China

In March 2016, Rosneft is going to make the investment decision about the Tianjin oil refinery in China. Its construction can be completed before the end of 2019.

The agreement about the deepening of strategic cooperation between Rosneft and CNPC was closed on Monday. The chief of Rosneft I. Sechin claimed before that his company was going to launch the Tianjin oil refinery at the end of 2019. The corresponding document was signed in Shanghai on May 20th. Rosneft binds itself to supply to the oil refinery oil under the long-term contract basis with payment in advance .

The total annual capacity of the plant will be 16 million tons. Starting from 2020, the share of Rosneft in supplies to the plant will be 9.1 million tons. Supplies will be performed via Kozmino.