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Rosneft lets CNPC into its production heartlands

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Report summary

With western sanctions in force against Russia, Rosneft has moved to further its relationship with CNPC, signing a framework agreement looking at the Vankorneft subsidiary, which holds Russia’s second most productive oil field – Vankorskoye. The rationale for both parties is clear – Chinese finance for Russian production – but the devil will be in the detail and negotiations could be tough.

What's included

This report contains

  • Document

    Rosneft lets CNPC into its production heartlands

    PDF 715.25 KB

Table of contents

  • Agreements approved at the highest level
  • Rosneft’s rise has been based on acquisitions
  • Acquisitions funded by oil supply deals with China
  • Taas-Yuryakh’s deal loses momentum
  • Vankorneft comes to the fore
  • Compelling reasons drive the agreement but details could delay

Tables and charts

This report includes 3 images and tables including:

Images

  • The Vankorneft area and East Siberia
  • Oil production profile at Vankorneft fields

Tables

  • Rosneft lets CNPC into its production heartlands: Table 1

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