Rosneft proposed that China take a stake in one of its largest oilfields in a deal that would strengthen energy ties between Moscow and Beijing at a time when the future of western groups in Russia is uncertain.
The deal for a stake in Vankor, Rosneft’s third-largest onshore production subsidiary, would mark the most significant Chinese equity participation in Russia’s onshore oil industry.
Russian president Vladimir Putin unveiled the proposed Rosneft deal at a ceremony yesterday to mark the start of work on another project in Chinese-Russian energy co-operation: the Power of Siberia pipeline that is intended to deliver $400bn worth of gas from Russia to China.
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