BEIJING: Russia and China sealed a raft of energy deals during President Vladimir Putin’s visit to Beijing on Saturday, strengthening economic ties while pledging to preserve the strategic balance of power among nations.
The deals involve the sale of stakes in a number of Russian projects to Chinese firms, an oil supply contract and joint investments in petrochemical projects in Russia.
Rosneft (ROSN.MM), Russia’s top oil producer, agreed with China National Chemical Corporation (ChemChina) [CNNCC.UL] that ChemChina would take a 40 percent stake in Rosneft’s planned petrochemical complex VNHK in Russia’s Far East.
The deal would help Rosneft finance the project and get …read more
Source: Geo TV
