• 5 mins British Utility Companies Brace For Major Reforms
  • 4 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 6 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 7 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 8 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 9 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 10 hours Rosneft Signs $400M Deal With Kurdistan
  • 13 hours Kinder Morgan Warns About Trans Mountain Delays
  • 19 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 1 day Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 1 day Russia, Saudis Team Up To Boost Fracking Tech
  • 1 day Conflicting News Spurs Doubt On Aramco IPO
  • 1 day Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
Alt Text

Iran Ready For OPEC Oil Deal Extension

Iran is ready to take…

Alt Text

Why U.S. Crude Exports Are Booming

U.S. crude oil exports are…

Alt Text

Are Combustion Engines Reaching Peak Demand?

As countries announce plans to…

China and Russia Haggle Over Energy Deal Prices

China and Russia Haggle Over Energy Deal Prices

China, the world’s second largest economy, has made no secret of its interest in securing Russian energy exports, while Moscow has done little to hide its interest in supplying it.

Recent discussions and future export projects are increasingly getting mired in discussions over cost, with Beijing seeking long-term fixed price contracts, an arrangement that the Russian Federation’s leading energy companies are most reluctant to agree to.

Several months ago during a visit to the Russian Federation China's President Hu Jintao spoke about bilateral Sino-Russian trade doubling within the next four years from $55 billion in 2010 to $100, to double again to $200 billion by 2020, driven mainly by Russian energy exports to China, including oil, gas, hydro-electricity and coal.

As a non member of the Organization of Oil Exporting countries, the Russian Federation is not constrained by OPEC quotas and is eager to export as much oil and natural gas as possible when prices are high and is balking at China’s insistence on long-term, fixed price contracts, The Japan Times reported.

China has bluntly informed Russia that unless acceptable pricing arrangements for both pipeline oil and natural gas are agreed in advance, the promised energy cooperation will not go ahead as planned.

By. Joao Peixe, Deputy Editor OilPrice.com




Back to homepage


Leave a comment
  • Anonymous on September 19 2011 said:
    China may have held out too long. Japan's need for LNG, following the damage to its nuclear facilities from the Sendai earthquake, has pushed Asian spot LNG prices up 50% to $17/MMBtu recently. More bad news: According to the Jakarta Post, Indonesia is pressing China to increase the price it pays for Tangguh LNG.
  • Anonymous on September 20 2011 said:
    An interesting and important comment Robert Price. Now the folks in the cheap seats know why Big Gas called Sarah Palin's proposal for a gas pipeline from Alaska or Northern Canada to Chicago "Politically smart but economically stupid". They want to sell gas in Asia.But don't worry. Japan's interest in extra gas is a short to medium term move.Nuclear is in the books for them.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News