Russia, China to resume talks on $25 bn loan
November 18th, 2008 - 6:05 pm ICT by IANSNovy Urengovy (Russia), Nov 18 (RIA Novosti) Russia and China will soon resume talks on two loans to major Russian oil companies worth $25 billion, Russian energy minister Sergei Shmatko said Tuesday. State-controlled oil major Rosneft and pipeline monopoly Transneft suspended talks with China last week on $15 billion and $10 billion loans due to disagreements over interest rates and government guarantees.
Under the deal being negotiated, Rosneft would receive $15 billion and Transneft $10 billion.
The talks are seen as part of a broader oil supply deal that would allow energy-hungry China to secure an annual supply of 15 million tonnes of crude for 20 years and the Russian companies to receive funds to refinance their liabilities amid the ongoing global credit crunch.
Oil to China is expected to be pumped via a branch of the East Siberia-Pacific Ocean (ESPO) pipeline the construction of which will start later this year. The branch will run from Skovorodino in the Amur Region in Russia’s Far East to the Chinese border.
- Russia, China sign oil deal, start new pipeline branch - Apr 21, 2009
- Russia, China sign $25-bn energy deal - Feb 18, 2009
- Pacific oil pipeline a strategic project: Putin - Dec 28, 2009
- Strong earthquake strikes Russia's Far East near border with China - Oct 14, 2011
- Russia, China sign energy deal for pipeline link - Oct 29, 2008
- ExxonMobil and Rosneft sign deal for joint development of Arctic and Black Sea resources - Aug 31, 2011
- Russian state oil firm to buy back shares worth $2 bn - Jun 01, 2012
- Putin warns against excluding Russia from energy decisions - Apr 06, 2009
- Russia resumes oil deliveries to Belarus after price agreement - Jan 26, 2011
- China-Russia oil pipeline begins operation - Jan 01, 2011
- Russia to invest $5bn in shipbuilding by 2020 - Dec 29, 2009
- China, Russia oil pipeline operation significant to global energy market: Expert - Jan 01, 2011
- Russia, Venezuela sign package of oil deals - Sep 10, 2009
- China, Russia sign gas, banking deals as Putin visits (Lead) - Oct 13, 2009
- North Korea to get $100 mn for Russian gas transit - Nov 17, 2011
Tags: amur region, chinese border, east siberia, espo, global credit crunch, government guarantees, ria novosti russia, rosneft, russian energy, russian oil companies