Sergey Bogdanchikov, president of the state-controlled oil company Rosneft
Photo: Dmitry Azarov
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Rosneft to Sign Deal with Chinese
Rosneft and the Chinese UNIPEC will sign a contract tomorrow on delivery of 3 million tons of oil to China through the border crossing with Mongolia at Naushki. This development may motivate Rosneft to acquire YUKOS Transservis, a railway operator that YUKOS operated on the same line. UNIPEC is an international oil trader, 70 percent of which is owned by Sinopec. The signing of the contract may be delayed by the resignation of Rosneft vice president Nikolay Borisenko, who personally handled the company's Chinese business.
Last year, Rosneft delivered 8.9 million of the 10.3 million tons of oil that China received from Russia. All of it passed through the Transbaikal-Manchuria border crossing.
In 2004, the countries agreed that Russia would provide China with 15 million tons of oil last year. That plans was scuttled when YUKOS ceased to provide the Chinese with oil in the autumn of last year.
Former general director of YUKOS Transservis Alexey Grom said that the company's net profit last year was around 1 billion rubles. The company is likely to be sold in one lot with other properties. Therefore, it is likely to cost 8-10 billion rubles. It would be extremely difficult to ship oil through Naushki without controlling that company, which handles 13 percent of all Russian train oil shipment. Severstaltrans is also said to be interested in acquiring the company. Severstaltrans declined to comment on those rumors.
www.kommersant.com
All the Article in Russian as of Mar. 26, 2007
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