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ChemChina signs MOU with Rosneft for sale of 30% stake

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/06/2015 (11:10)
According to a press release on the company’s website, Russia’s Rosneft and ChemChina Petrochemical Co. (CCPC) have signed a memorandum of understanding (MOU) for the proposed sale of a 30% stake in the Chinese company to Rosneft. The MOU reportedly will also enable the two companies to cooperate in oil, oil products and petrochemicals trading.

Meanwhile, Rosneft and ChemChina also signed an agreement for crude oil supplies to ChemChina at the St. Petersburg International Economic Forum. The term of the contract is 1 year and Rosneft will supply 200,000 tons of crude oil per month to the Chinese company.
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