Interfax cited Mr Nikolai Tokarev president of oil pipeline monopoly Transneft as saying that Russia could increase oil shipments to China in future.


He said that "We do not rule out that these volumes could be increased in time, as China is experiencing a shortage of oil."

He added that "Our Chinese partners have approached us with a proposal to consider the possibility of doubling supplies to 30 million tonnes. Today, unfortunately, we cannot promise such volumes."

Mr Tokarev said there will be demand for oil in Russia as well, remarking that it will be necessary to supply crude to the Kozmino, Komsomolsk oil refineries as well as the refinery that Rosneft plans to build in Primorye.

(Sourced from Interfax)