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2014-10-14 20:35:00

RUSSIA & CHINA: STRONG TIES

RUSSIA & CHINA: STRONG TIES

Russia seeks an acceleration of its business ties with China. Russian Prime Minister Dmitry Medvedev suggested on Monday that the two countries could soon reach an agreement on a second pipeline.

"We would like to come to an agreement in the next year," Medvedev commented during the 19th Regular Meeting of the Heads of Government of Russia and China. Russia's PM referred to the Western Route, which would be the second pipeline connecting the countries after the Power of Siberia. According to some reports, the second pipeline would deliver almost the same amount of gas - around 30 bcm, compared to 38 bcm to be delivered by the Power of Siberia.

Medvedev met with Chinese Premier Li Keqiang, indicating that Moscow is seeking an intensification of ties to minimise the consequences of Western sanctions.

"Over the past six years, bilateral trade has more than doubled from $40 to $90 billion. But we have more important goals ahead," Medvedev said in a note.

Meanwhile, Rosneft and CNPC strengthened cooperation.

'The agreement envisages elaboration of current and potential strategic cooperation areas . The document also foresees the fueling of a deeper collaboration in these areas. In particular, the parties intend to proceed with Upstream projects in the Russia, refinining in China (Tianjin Refinery) and other venues of cooperation,' reads a statement published by Rosneft on Monday.

Some other reports suggested that the Power of Siberia might suffer delays. A clearer picture could come out of the talks between Vladimir Putin and China's Keqiang on Tuesday.

naturalgaseurope.com

Tags: RUSSIA, CHINA, SANCTIONS, GAS, ROSNEFT, CNPC,

Chronicle:

RUSSIA CHINA: STRONG TIES
2018, September, 19, 13:43:00

ЦЕНА URALS: $74,45568

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 августа по 14 сентября 2018 года составила $74,45568 за баррель, или $543,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 октября 2018 года повысится на $7,5 и составит $137,5 за тонну.

RUSSIA CHINA: STRONG TIES
2018, September, 19, 13:39:00

SAUDIS OIL PRODUCTION: 10.42 MBD

PLATTS - Saudi production has since risen to 10.42 million b/d in August, the country reported to OPEC in the organization's most recent monthly oil market report. Saudi Arabia's crude oil stocks, which have been declining steadily over the last three years, fell to 229.41 million barrels in July, down 11.4% since May 2017, the JODI data showed.

RUSSIA CHINA: STRONG TIES
2018, September, 19, 13:35:00

U.S. PRODUCTION: OIL + 79 TBD, GAS + 961 MCFD

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .

RUSSIA CHINA: STRONG TIES
2018, September, 19, 13:30:00

U.S. - CHINA SANCTIONS: $60 BLN

REUTERS - Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.

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