[SIZE=+1]Russia and China prepare to share oil[/SIZE]
China National News
Tuesday 28th April, 2009
Russia has begun construction of a crude oil pipeline to China.China National News
Tuesday 28th April, 2009
The two countries agreed last month to exchange loans for oil.
Russia has already begun pipeline construction in Skovorodino, where the pipeline starts.
Construction of the pipeline section in China will begin in May, and the section cutting across the border in the Chinese province of Heilongjiang will be started in September.
In return for the oil, China will lend $10 billion to Russian oil pipeline monopoly Transneft and another $15 billion to state-run oil major Rosneft.
China in return will receive 300 million tonnes of Russian oil over a period of 20 years.