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Commodities Briefing - Categorized | Energy, Market Moves, Oil more

Russia, China sign $25 billion energy deal

Posted on 18 February 2009

From AP: Russia and China signed a $25 billion energy deal in Beijing on Tuesday that will see the Asian country secure oil supplies from Moscow for the next 20 years in return for loans, Russia’s state pipeline monopoly Transneft said.

As part of the broader energy supply deal, China’s Development Bank will lend $15 billion to Rosneft, Russia’s state-owned oil major, and $10 billion to Transneft, a vital boost for energy companies as they struggle to raise capital amid straitened lending conditions and plunging oil prices, Transneft spokesman Igor Dyomin said….. Full Article: Source


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