• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 29 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 6 mins Russia loses its chance to capture the EU gas market
  • 3 hours So the President is on that Hydroxy
  • 49 mins 60 mph electric mopeds
  • 1 hour Payback Time: Republican Senators turn the tables on Democrats. The difference is the Republican investigations are legit.
  • 4 hours Why 2030-Isn.t-The-Magic-Year-For-Electric-Vehicles
  • 6 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 42 mins China to Impose Dictatorship on Hong Kong
  • 5 hours Monetary and Fiscal Policies in Times of Large Debt:
  • 3 hours Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 8 hours DEFIANCE – There are More of Us Than Them
  • 3 hours Oil Capex Proportions
  • 12 hours Let’s Try This....
Why The Covid Crisis Is A Pivotal Moment For Renewables

Why The Covid Crisis Is A Pivotal Moment For Renewables

Widespread lockdowns have resulted in…

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