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Russia and China in Agreement to Build Oil Pipeline Linking Siberia and Northeastern China and Enter Into Economic Agreement

posted November 3, 2008 - 10:33am
Russia and China in Agreement to Build Oil Pipeline Linking Siberia and Northeastern China and Enter Into Economic Agreement

China and Russia are now cooperating on a pipeline expected to carry 15 million tons of oil per year between Siberia and Northeastern China. This pipeline is to be built by Transneft of Russia and China National Petroleum Corporation (CNPC).

It has been reported that China is also in talks to provide $20 to $25 billion in loans to Russian corporations in order to help them through the current credit crisis. A small price to pay for a strategic, long-term energy supply from their neighbor and this may pave the way for more economic cooperation between the two countries.

Follow the link below to read more about the Russia-China cooperation on Morningstar.com.

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Website: http://news.morningstar.com/articlenet/article.asp...
Author: Freeseo
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