Russia’s largest oil producer Rosneft (ROSN.MM) wants to boost its supplies of oil to China through Kazakhstan to as much as 18 million tonnes (36,000 bpd) per year from around 10 million tonnes in 2017, three industry sources said on Friday. Such a big increase may significantly drain flows of Urals blend to Europe at a time when Russian oil output has been reduced as part of a global pact to support prices. “(Rosneft’s head Igor) Sechin would like to boost oil supplies to China to 13 million tonnes per year with a possibility of further increase to 18 million tonnes,” a source familiar with Rosneft’s plans said, adding that there has been no decision yet at government level.
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September 7, 2017