Rosneft and ChemChina also signed a new one-year oil supply contractMoscow: Russia’s biggest oil producer Rosneft said on Saturday that China National Chemical Corporation (ChemChina) would take a 40% stake in its planned petrochemical complex VNHK in Russia’s Far East. Rosneft and ChemChina also signed a new one-year oil supply contract, the Russian company said without providing volumes or financial details. “The participation of ChemChina will allow Rosneft to optimise the project financing and jointly organise sales of the high-margin products of the future complex on the premium markets of the Asia-Pacific region,” Rosneft said in a statement.

Source: Mint June 25, 2016 08:37 UTC