(EnergyAsia, April 21, Tuesday) — China’s state oil majors PetroChina and Sinopec will be buying some of their oil for as low as US$20 per barrel under the country’s recent loan-for-oil deal with Russia. Through state China Development Bank, the Chinese government has agreed to provide a US$25 billion loan to Russia in return for…
CHINA: Oil-for-loan deal with Russia locks in price of US$20 per barrel
Posted on April 20, 2009 by EnergyAsia