Russia invites China into oil business | Reuters

April 8, 2015 10:37 AM

63 0

Russia invites China into oil business
| Reuters

VANKOR/SUZUN OIL FIELDS, Russia (Reuters) - Russia's freezing north has never been the most welcoming place for foreign travelers, and its onshore oil riches have always been state secrets. But when the order comes from the Kremlin to open up, people obey.

Last September, President Vladimir Putin, who has been seeking new markets in Asia for Russian energy exports to replace traditional customers in Europe, announced that he would welcome Chinese investment in Vankor, a vast new oil field in remote eastern Siberia owned by state firm Rosneft.

Also read: GE in talks to buy oilfield services provider Baker Hughes: WSJ

Read more

To category page