Sunday, May 10, 2009

China National Petroleum Corporation and Russian companies to build Sino-Russian crude oil pipeline into operation next year

By Zou himfr

China National Petroleum Corporation Zhou Jiping, deputy general supervisor said yesterday that Chinese and Russian oil businesses functioning in China and Russia to construct oil pipeline building will be the end of this month, output by the end of 2010.

Zhou Jiping oil in the annual social responsibility report in 2008, said that in 2008 oil oil and gas strategy in the construction of a major breakthrough channel. Central Asian natural gas pipeline and gas line construction, the second phase of Sino-Kazakhstan crude oil pipeline welding completion of the main pipeline, which will secure the supply of domestic oil and gas to open up new channels of energy imports, to promote international energy cooperation in the region.

China National Petroleum Corporation in February of this year with the Russian oil financial gatherings and the Russian countrywide oil financial gatherings noted the pipeline transport of crude oil trade long-term agreement. And with the Russian countrywide oil pipeline transport financial gathering, noted the Sino-Russian crude oil pipeline create, makeup and performance of the agreement.

The two sides in the Russian Far East will be a crude oil pipeline project on the basis of the co-construction and operation from the Russian Far East city of Skovorodino by the China border town of Mohe to the Sino-Russian crude oil pipeline of Daqing. Pipeline put into operation, Russia will in the next 20 years, China's annual output to 15 million tons of crude oil.

China National Petroleum Corporation said that, as at the end of 2008, China National Petroleum Corporation has bought into in Kazakhstan more than 7 billion U.S. dollars. - 22787

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