Interfax reported that Rosneft has drawn USD 1 billion of a China Development Bank loan in the second quarter of this year and plans to draw the remainder by the end of 2010.

The Russian oil company said in a Q1 2010 US GAAP earnings report that it drew USD 998 million of a long term loan facility after March 31st 2010.

Mr Peter O'Brien vice president of Rosneft said that the report was talking about the Chinese loan. He said that "We have the opportunity to draw USD 5 billion of the Chinese loan in 2010. We've already taken USD 1 billion and expect to receive the rest by the end of the year."

(Sourced from Interfax)