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Rosneft today

Rosneft Delegation Took Part in the APEC Summit

10 November 2014
Photo: the Presidential Press and Information Office

Rosneft delegation headed by the Chairman of the Management Board Igor Sechin took part in the Asia-Pacific Economic Cooperation (APEC) summit in Beijing.

 In particular, on November 9th a Framework Agreement envisaging the purchase of a 10% share stake in ZAO Vankorneft was signed between Rosneft and China National Oil & Gas Exploration and Development Corporation (is a part of CNPC). The signing ceremony was led by the President of the Russian Federation Vladimir Putin and President of the People's Republic of China Xi Jinping.

Also Rosneft and Chinese National Petroleum Corporation signed a technical agreement concerning the issues of temporary changes of delivery point for the long-term export sale-and-purchase contract from 21st June 2013.

Moreover, on November 8th Igor Sechin took part in the meeting of The Board of Directors of the PetroChina-Rosneft Orient Petrochemical (Tianjin) Company Ltd (a joint venture of Rosneft and the Chinese National Petroleum Corporation (CNPC)) which endorsed the Feasibility Study (FS) for the project to construct the Tianjin refinery as regards the oil refining package. The members of the Board of Directors adopted a resolution to optimize the oil refiningsegment of the Tianjin refinery with a primary crudeprocessing capacity of 16 mmtpa and a package for production of aromatic hydrocarbons with a capacity of 1.4 mmtpa of paraxylene. The Board of Directors also resolved to send for rework the FS for the Tianjin refinery as regards the petrochemical package.

Pursuant to the construction schedule signed by Rosneft and CNPC in May 2014, the refinery in Tianjin is planned to be started up in late 2019. In parallel, the same document regulates feedstock supplies for the refinery in a volume of 9.1 mmt.

Notes for editors:

Current cooperation between Rosneft and CNPC is taking place, in particular, in the following areas:

Crude supplies under a long-term crude sale and purchase agreement;
Crude, oil products and petrochemicals export within the framework of tenders;
JV Vostok-Energy dealing with hydrocarbons exploration and production in the Irkutsk Region;
JV Vostok Petrochemicals aiming at the Tianjin Refinery construction and refined products sales in China and across regional markets.

Rosneft and Sinopec cooperation maintained since 2006:
Oil-producing enterprise Udmurtneft (Rosneft – 49.54%, Sinopec – 47.6%);
Project Sakhalin-3 (Rosneft – 74.9%, Sinopec – 25.1%).

Rosneft Information Division 
+ 7 (499) 517-88-97
November 10, 2014

Attached images