After more than a decade of talks, Russia and China confirm a major energy deal: Rosneft will...


After more than a decade of talks, Russia and China confirm a major energy deal: Rosneft will double Russian oil supplies in return for a $2B loan from China's development bank, and partner with China's state oil company to develop eight onshore blocks and three offshore licenses. Also, Gazprom will deliver 38B cubic meters per year to China via a pipeline starting in 2018.

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Comments (10)
  • Rinascimento
    , contributor
    Comments (1589) | Send Message
     
    And the transactions will be done without the US$
    22 Mar 2013, 08:05 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    Lol...yep, the Chinese might not want to loan in USD$ over a long period, however $2B isn't a huge amount of money in the grand scheme. The question is how much shift there is/will be to transacting commodities and executing loan agreements in other currencies, i.e. RMB for commodities and SDRs for loans.
    22 Mar 2013, 09:26 PM Reply Like
  • DavidTTaylor
    , contributor
    Comments (58) | Send Message
     
    How much 38B cubic meter per year will be in USD and in RMB in 2018?
    23 Mar 2013, 04:50 AM Reply Like
  • Rinascimento
    , contributor
    Comments (1589) | Send Message
     
    Did not China and Russia make a deal to trade in their currencies, especially in oil and nat gas?
    23 Mar 2013, 09:11 AM Reply Like
  • User 353732
    , contributor
    Comments (5158) | Send Message
     
    The axis of kleptocrats and autocrats is cemented by oil and gas.
    Russia thinks it is gaining strategic leverage over China as it seeks to build a Putinist Empire while China is engaged in the resource(and In Siberia, people) colonization.
    23 Mar 2013, 10:55 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (3413) | Send Message
     
    These two are actually old buddies tracing back to the early 1920's. In the China Warlord era, their modern-day founding father, Dr. Sun Yet-Suen, having been cornered in the South, Guogdung Province, sought Western help but was rebuffed, then welcomed Soviet aids to found the Whampoa Military Academy that graduated such prominent generals as Chiang Kai-Shek and Marshal Lin Pao, among numerous others. Had it not been for the Soviets dipping their hands, China might still have been in the Warlord era, for a long while!
    23 Mar 2013, 09:50 PM Reply Like
  • Rinascimento
    , contributor
    Comments (1589) | Send Message
     
    Thanks for the information; Russia is nothing compared to the old Soviet Union, in my opinion, except for the nukes; right now I think both have common interests and perceive the US a threat; right now isn't China leasing farmland in Siberia?
    23 Mar 2013, 10:23 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (3413) | Send Message
     
    Correct; Emperor Xi is playing with a strong hand, while Emperor Putin may succumb to a lower profile in this chess game, for now.

     

    Long live Emperor Xi and Emperor Putin!!
    24 Mar 2013, 12:10 AM Reply Like
  • Rinascimento
    , contributor
    Comments (1589) | Send Message
     
    I think both China and Russia have strong hands against the US; while we have been busy fighting in Afghanistan and Iraq , both countries are getting stronger; now we are in Africa and there is talk of Iran; our military has serious problems while their military is building up; the worst thing is that people think all our problems are fixed because of all the immigration; the only issue is that the majority of this immigrants are not well educated and those who are educated know nothing because of our bad schooling; in Russia and China their schooling is top notch and people are well educated;
    maybe emperor Obama will fix the education system
    24 Mar 2013, 10:48 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (3413) | Send Message
     
    Urrh...you mean King Barrie the Unready?
    24 Mar 2013, 11:56 AM Reply Like
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