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

|About: Rosneft Oil Company OJSC (RNFTF)|By:, SA News Editor

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.