Rosneft cannot reach an agreement with the China National Petroleum Corporation (CNPC) regarding payments for the supply of Russian oil under a contract concluded in February 2009. newspaper about this . the Kommersant A source close to the Russian company told

Russian oil is supplied to China through the Eastern Siberia - Pacific Ocean (ESPO) oil pipeline. ESPO was built in accordance with a contract between Rosneft, Transneft and CNPC. As part of the agreement, Rosneft and Transneft received a loan from the China Development Bank for $15 billion and $10 billion, respectively. Russia began supplying oil to CNPC in January of this year.

“The parties cannot agree on their positions due to parameter “T”, which sets the tariff for pumping through Russian territory. At the end of February, ChinaOil had to pay Rosneft $555.3 million for supplies of 1.25 million tons of oil in January. But the Chinese company unilaterally reduced the amount of payments by 7% ($38.4 million), transferring only $516.9 million,” a source told Kommersant.

“The price of oil for China included a tariff for pumping to Kozmino, which is the same for the entire ESPO - 1,815 thousand rubles per ton. However, the Chinese side believes that pumping to Skovorodino, where the branch begins, costs less,” added the publication’s government source.

At the beginning of March, a CNPC delegation visited Moscow, but the parties failed to reach an agreement.

Rosneft and CNPC cannot agree on the price of oil supplied to China