Rosneft and Chinese energy company CEFC at the margins of the APEC Summit signed an agreement to perform a joint preliminary study of possible construction of petrochemical facility in Hainan Province. The companies will set up joint working teams to discuss technical configurations of the project as well as commercial and economic matters.
The parties intend to perform a joint analysis of long-term supply of feedstock for petrochemical facility in Hainan and to explore various options for project product monetization.
Rosneft and Chinese energy company CEFC in July 2017 signed strategic cooperation agreement within the framework of an official visit of the President of the People's Republic of China to Moscow. The strategic cooperation agreement envisages interaction of the parties in such areas as upstream, refining and petrochemicals, oil and oil product trading, retail sales and financial services. In September at the IXth BRICS Summit Rosneft and CEFC signed a long-term oil supply contract.
The Chinese corporation CEFC is a vertically integrated company with oil and gas projects in production, refining and petrochemistry, transportation and sales of refined products. In addition, CEFC has banking, equity and other financial instruments and is an important player on the global investment market in such areas as new energy sources, biopharmaceuticals, aviation, tourism, and infrastructure projects.
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