November 20, 2017 / 7:07 AM / a year ago

Russia's Rosneft says clinches oil supply deal with China's CEFC

MOSCOW, Nov 20 (Reuters) - Russia’s largest oil producer Rosneft said on Monday it had signed a deal with CEFC China Energy Company Ltd on oil supplies, further strengthening its foothold in the world’s largest energy consumer.

Rosneft said it would supply up to 60.8 million tonnes of oil in total in the next five years starting from Jan. 1, 2018. The price of the oil deliveries is defined according to a formula which is pegged to prices on the global market. (Reporting by Maria Kiselyova; writing by Vladimir Soldatkin; editing by Dmitry Solovyov)

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