Rosneft Reaches US $15 Billion Loan Agreement With China.
PR Newswire Europe, June, 2009
MOSCOW, June 24 /PRNewswire/ --
- Baker Botts Lawyers Counsel Russian Oil, Gas Company in Complex Oil Supply Transaction
A US $15 billion loan agreement between Russian oil and gas company Rosneft and the Chinese government is the first step in the development of a major oil supply contract between the two countries. The agreement, which closed in April of 2009, is one of the largest private loans booked in Russia this year.
The Chinese Development Bank (CDB) will fund the loan that will allow Rosneft and the China National United Oil Company (CNUOC) to enter in a 20-year oil supply contract. This agreement, coupled with a US $10 billion loan to Transnet for pipeline construction between the two countries, will significantly contribute to...
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