23-05-08 China has become Rosneft's biggest oil importer in 2007, with 8.9 mm tons of oil bought, just as in the previous year, the company said in an annual report. China accounts for 14.1 % of all exports of oil and gas condensate, Rosneft said.
In 2007, Rosneft exported 63.2 mm tons of oil and gas condensate (including oil purchased from third parties): 27.3 mm tons (43.2 %) -- to Western and Central Europe; 17.8 mm tons (28.2 %) -- to the Mediterranean countries; 11.3 mm tons (17.8 %) to the Asian-Pacific region; and 6.8 mm tons (10.8 %) to the CIS countries.

The company supplied 41 mm tons (64.9 %) through maritime terminals of Primorsk, Novorossiysk, the Belokamenka floating oil storage facility, De-Kastri and Yuzhny; 9.1 mm tons (14.4 %) by train to China and Belarus, including successive transportation through oil pipelines and by railway; and 13.1 mm tons (20.7 %) through oil pipelines to Belarus, Poland, the Czech Republic and Kazakhstan.
The export terminal at the port of De-Kastri in Khabarovsk Territory, owned by the Sakhalin-I project consortium (in which Rosneft holds 20 %), shipped 2.4 mm tons of the company's oil. The company exported 2.4 mm tons of oil via Belokamenka.

In 2007, Rosneft supplied 5.2 mm tons of oil and 700,000 tons of gas condensate via the Caspian Pipeline Consortium. Under a 2004 contract, the China National Petroleum Corporation (CNPC) paid $ 6 bn to its Russian partner for supplying 48.4 mm tons of oil before 2010.
Meanwhile, Rosneft announced last year that it will review the contract's price formula due to changes in the market situation.

In autumn 2007, CNPC agreed to an oil price increase by $ 0.675 per barrel under its contract with Rosneft. Talks between the parties continue, the Chinese corporation has said it is not prepared yet for a further oil price increase under the contract with Rosneft.
The parties are also in talks over a new long-term contract, whereby Rosneft would supply to CNPC 50 mm tons of oil during 2011-2015, however, so far no consensus has been reached on a price.