Rosneft to get $70 billion from China in prepayment for crude: Putin

ST PETERSBURG, Russia Fri Jun 21, 2013 7:44am EDT

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ST PETERSBURG, Russia (Reuters) - Russian state-controlled oil company Rosneft (ROSN.MM) will secure around $70 billion from China in upfront payments for crude deliveries, Russian President Vladimir Putin said on Friday.

Earlier on Friday Rosneft said it had signed a $270 billion contract to supply China with 300,000 barrels per day over 25 years starting in the second half of the decade, on top of the 300,000 bpd it already ships to the world's largest energy consumer.

(Reporting by Vladimir Soldatkin; Writing by Maria Kiselyova, Editing by Alessandra Prentice)

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