• 3 minutes Natural gas is crushing wind and solar power
  • 6 minutes OPEC and Russia could discuss emergency cuts
  • 8 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 11 minutes Question: Why are oil futures so low through 2020?
  • 13 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 3 hours Oil and gas producers fire back at Democratic presidential candidates.
  • 25 mins "Criticism of migration will become a criminal offense.  And media outlets that give room to criticism of migration, can be shut down." - EU Official to the Media.
  • 3 hours Saudi Aramco launches largest shale gas development outside U.S.
  • 8 hours So the west is winning, is it? Only if you’re a delusional Trump toady, Mr Pompeo, by Simon Tisdall
  • 15 hours Peak Shale Will Send Oil Prices Sky High
  • 10 hours CDC covid19 coverup?
  • 7 hours Charts of COVID-19 Fatality Rate by Age and Sex
  • 12 hours What Is Holding Back Geothermal Heating and Cooling?
  • 24 hours Fight with American ignorance, Part 1: US is a Republic, it is not a Democracy
  • 2 hours Huawei ≠ iPhones? UAE Used Cyber Super-Weapon To Spy On iPhones Of Foes

Rosneft Confident Oil Pricing Dispute With China Resolved Soon

Rosneft Confident Oil Pricing Dispute With China Resolved Soon

China and Rosneft are disputing the price that the Russian company is to provide oil through its Eastern Siberia-Pacific Ocean (ESPO) pipeline, but Rosneft remains optimistic that the issue will shortly be resolved.

Rosneft issued a statement observing, "The contract price formula is unchanged. The Chinese side has demonstrated significant progress in the resolution of issues of payment for the supplies, and has paid a significant portion of the debt under the contract. It is these circumstances that instill Rosneft with the confidence that the situation will finally be resolved soon."

The ESPO pipeline represents a major strategic shift for Russia, sending its crude oil eastwards to Asian markets rather than the pattern developed in soviet times of shifting energy westwards, first for the indigenous Soviet market and then onwards to Europe. In 2003 former Yukos chairman Mikhail Khodorovskii was castigated by the Kremlin for proposing a private Yukos pipeline to supply the burgeoning Chinese market.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage


Leave a comment

Leave a comment

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