CNPC Receives Offer From Rosneft On Crude Oil Supplies

January 7, 2013

China's CNPC has received an invitation from Rosneft to send a delegation to Moscow to conduct negotiations on delivering additional supplies of crude to China, Interfax reported, citing a source in CNPC.

According to the source, the negotiations are to center on supplying the raw material from Russia to China over the Atasu-Alashankou pipeline through Kazakhstan. Rosneft's press-service has not commented on the issue yet.

Russia currently supplies China with 15 million tons of crude a year through the ESPO pipeline. Last year, the sides disputed the prices of these supplies as CNPC felt it was purchasing Russian crude at inflated prices. Eventually, the Chinese side won a discount of $1.50 per barrel.

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