The contract follows a deal signed in March last year between CNPC, the parent of Hong Kong-listed PetroChina, and Yukos, under which the Chinese oil group agreed to buy six million tons of crude oil to be shipped by rail between 2003 and 2006, the newspaper said. The oil will be transported via an existing railway route linking the Russian border town of Zabaikalsk and Manzhouli on the Chinese side.
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China Sees No Risk
Major Yukos deal ties country to troubled company...
China's largest oil group, state-owned China National Petroleum Corp (CNPC), has signed an agreement to buy 10 million tons of oil a year from Russian group Yukos Oil.
The agreement, which will last for six or seven years, was signed on Tuesday in China by CNPC President Ma Fucai and Yukos Senior Vice-President Alexander Temerko.
The contract follows a deal signed in March last year between CNPC, the parent of Hong Kong-listed PetroChina, and Yukos, under which the Chinese oil group agreed to buy six million tons of crude oil to be shipped by rail between 2003 and 2006, the newspaper said. The oil will be transported via an existing railway route linking the Russian border town of Zabaikalsk and Manzhouli on the Chinese side.
The contract follows a deal signed in March last year between CNPC, the parent of Hong Kong-listed PetroChina, and Yukos, under which the Chinese oil group agreed to buy six million tons of crude oil to be shipped by rail between 2003 and 2006, the newspaper said. The oil will be transported via an existing railway route linking the Russian border town of Zabaikalsk and Manzhouli on the Chinese side.
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