Rosneft prepares $60bn oil contract with China

Russia’s oil major Rosneft has prepared a 60-billion-U.S. dollar-worth contract with China on oil sales, Russian President Vladimir Putin said on Thursday at a meeting with Chinese Prime Minister Zhang Gaoli. “A large-scale, unprecedented contract with Rosneft has been drafted. Oil supplies to China are expected to reach several hundreds million tons, to a sum of 60 billion U.S. dollars,” the Russian president said. “We pin big hopes on cooperation between China and Russia’s Gazprom, and Novatek. These are large-scale long-term projects for years to come,” Putin said. “Our focus is also on high technologies sector. I am sure we have good prospects in this area as well.” Energy dialogue with Russia in the focus of the visit of the Chinese delegation to St. Petersburg "We came to participate in the forum, but the other reason for our visit is to continue discussions with local partners to strengthen cooperation in the energy sector," said, for his part, Deputy Prime Minister of the State Council of the PRC. "Now global economy recovers with difficulties. I think, the theme of the forum - the strengthening of the global economy - is chosen well. I'm convinced that this forum will bring great results and be successful,"  said Zhang Gaoli. Recalling that the President Xi Jinping made ??his first visit to Russia the first Vice-premier of China emphasized that he considered his duty to implement the agreements reached at the meeting when the two leaders agreed. When the Russian president presented his delegation to Chinese partners, Zhang Gaoli called the head of "Rosneft" Igor Sechin his good friend. Putin joked: "He's probably spends more time in China than in Russia." First Vice-premier of China thanked the Russian leader for support in the aftermath of the earthquake in the country. On April 20, 2013, in Lushan County, Sichuan Province an earthquake of magnitude 7.0 took place. In result about 200 people died, more than 12 thousand  were injured.