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  • bluecheese4u bluecheese4u Mar 20, 2013 11:10 PM Flag

    Rosneft may up oil flows to China by 34 mln T/yr by 2018-sources

    Rosneft may up oil flows to China by 34 mln T/yr by 2018-sources

    MOSCOW, March 20 | Wed Mar 20, 2013 11:53am EDT

    (Reuters) - Russia's top crude producer Rosneft may increase oil supplies to China by some 34 million tonnes to around 50 million tonnes (1 million barrels per day) by 2018, industry sources told Reuters.

    This would make China the single largest consumer of oil from Russia, the world's top crude producer.

    They said Rosneft plans to increase oil supplies via East Siberia-Pacific Ocean (ESPO) pipeline by 1 million tonnes this year already, by a further 2 million tonnes next year and by a further 5 million tonnes from 2015 to 2017.

    Starting from 2018, the ESPO would ship 30 million tonnes in total, double the current volumes.

    Rosneft also seeks to ship 7 million tonnes to China via the Pacific port of Kozmino this year and increase it to 9 million tonnes in 2014.

    And the sources say that Rosneft is considering shipments via Kazakhstan to China to the tune of up to 10 million tonnes a year starting from Jan. 1 2014.


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