Bashneft, China

Chinese CNPC is about to take part in privatization of “Rosneft”

Chinese National Petroleum Company (CNPC) plans to consider possibility of participation in the privatization of “Rosneft”. Chairman of the Board of Directors of CNPC Wang Yilin says.
“We have interest in the project….We will consider it in detail, when Rosneft develops a proposal, as the partnership with the company has a strategic character and is a significant element of cooperation between the countries, TASS reports, citing the representative of the company.

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China is interested in buying the stake of "Rosneft".

China National Petroleum Corporation (CNPC) might participate in the privatization of "Rosneft", the details would be discussed at the level of heads of Russia and China, the vice-president of CNPC Wang Zhongcai stated.
According to the top manager, the working group of the corporation is currently considering the feasibility of such transaction. If it is approved, the parties will need to agree on a stake in the Russian oil and gas company, which can be sold.

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Sechin asks for an increase in the share of Rosneft on the route to China.

It was reported that the oil companies supplying the oil via the ESPO pipeline may be forced to reduce the amount of pumping of raw materials to the port of Kozmino by a total of 5 million tons per year. The reason is the desire of "Rosneft" to increase its exports to China, RBK informs.
A copy of the letter of the head of "Rosneft" Igor Sechin to the Deputy Minister of Energy, Anatoliy Yanovskiy is at the heart of the issue, in which the oil company asked the ministry to change the intergovernmental agreement on oil supplies to China and to adjust the route of delivery of additional 5 million tons of oil a year from 2015 to 2017. It was assumed that this volume will be delivered to China via the Skovorodino - Mohe pipeline, but now Sechin asks to redirect them towards the Kozmino port.
The fact, Sechin writes, is that only on November 6th, 2014 China notified "Rosneft" that because of the tightening of the environmental regulations it does not have time to complete the work on expanding the capacity of the pipeline on its own territory in time. Therefore the partners from China asked to change the direction of Russian oil supplies to Kozmino instead of the Mohe checkpoint.

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