Rosneft, CEFC sign strategic agreement

MOSCOW, September 4, 2017 – Rosneft signed two agreements with China’s CEFC at the 9th BRICS summit, the Russian oil giant said on Sunday.

The value of the deals, which comprise a contract for the sale of Russian oil and a Strategic Cooperation Agreement covering E&P projects in Siberia, was not disclosed.

“We continue our work on strengthening the relationship with our strategic partners, including certainly CEFC, the largest Chinese private energy company, aiming for a long-term cooperation in all the areas of Rosneft’s business activity,” said Rosneft CEO Igor Sechin in a statement. “The agreements signed today fully reflect the Company’s strategy, which priorities includes strengthening the relations with the Asia Pacific countries and, in particular, with China.”

The deals come following a Reuters report last month that CEFC was considering buying a stake in Rosneft, and as the Russian firm, which is the world’s largest listed oil company by output, has sought to bolster its international clout.

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