Almost 80 Companies To Take Part In Russia-China Energy Forum In November - Rosneft

Almost 80 Companies to Take Part in Russia-China Energy Forum in November - Rosneft

Nearly 80 Russian and Chinese companies have been invited to the Russian-Chinese energy business forum, set to be held in November, Russian oil giant Rosneft said in a press release on Tuesday.

MOSCOW (Pakistan Point News / Sputnik - 18th September, 2018) Nearly 80 Russian and Chinese companies have been invited to the Russian-Chinese energy business forum, set to be held in November, Russian oil giant Rosneft said in a press release on Tuesday.

The forum is set to be held in the Chinese capital of Beijing on November 29.

"We are pinning great hopes for cooperation enhancement on the Russian-Chinese energy forum. It will be held in November this year, 44 Russian and 35 Chinese companies have been invited," Rosneft CEO Igor Sechin said, as quoted in the press release, published after his meeting with Han Zheng, the first vice premier of the Chinese State Council.

According to the press release, Sechin presented Rosneft's key projects related to exploring, production and trading. The two sides agreed that Rosneft's cooperation with its Chinese partners was steadily developing.

"Cooperation with China is our conscious strategic choice. Rosneft sells one third of all of its exported oil to China, the delivery volume can amount up to 50 million tonnes this year," Sechin said.

Annual export of oil from Russia to China has increased by 4.5 times over the past 10 years, according to the Russian Federal Customs Service's estimates, while the oil products export has doubled, reaching 6.3 million tonnes, with Rosneft accounting for 75 percent of oil export.