• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 40 mins EU has already lost the Trump vs. EU Trade War
  • 7 mins More dumbed down? re Hong Kong Act of Congress
  • 16 hours Impeachment S**te
  • 1 hour Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 3 hours Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 23 hours 55.00 WTI
  • 8 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 4 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 day Water, Trump, and Israel’s National Security
  • 1 day Everything You Need To Know About Trump
  • 2 hours Last I Checked
  • 2 days IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 51 mins Petroleum Industry Domain Names
  • 55 mins What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?

Breaking News:

China’s Hunger For Coal Is Growing

The Science Behind Detecting A Wormhole

The Science Behind Detecting A Wormhole

Wormholes have always fascinated humans,…

6 Gold Companies Investors Can’t Ignore In 2020

6 Gold Companies Investors Can’t Ignore In 2020

Bullish signs are mounting for…

Russian Pipeline Monopoly in Legal Dispute with China

Following an impasse in negotiations between state-owned Russian pipeline monopoly Transneft and China Development Bank, Transneft is willing to repay early its $10 billion, 20-year loan from the China Development Bank if it has to file a suit in a London court against China over the price of oil it has already supplied.

Speaking on condition of anonymity, a Russian source intimately involved in the discussions said, "During the negotiations it was noted that the agreement on supplies of Russian oil to China is still being unilaterally violated by the Chinese. The oil supplied is not being paid for in full. It was said that if the dispute is sent to the London court, Transneft will be ready to repay its 20-year loan to China ahead of schedule," Russia’s RIA Novosti new agency reported.

In January Transneft began supplying oil to China for the first time via the first stage of the newly constructed Eastern Siberia - Pacific Ocean pipeline (ESPO), which is now transiting over one million tons per month, but now alleges that China National Petroleum Corp. (CNPC) has underpaid for supplies, citing differences over tariffs, only repaying some of its overdue fees in May. The first stage of the EPSO pipeline traverses a 1,713-mile arc above Siberia’s Lake Baikal.

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
Download on the App Store Get it on Google Play