Russia's state-run oil producer Rosneft is to launch a trading division in Singapore aimed at increasing crude sales in the burgeoning Asian oil consumer market. Rosneft exported 51 million tons per day of crude oil to Asia-Pacific markets last year, which accounted for half the company's overseas crude sales, while in November it signed a one-year supply deal with China National Chemical Corp for 2.4 million mt of crude.
Russia's state-run oil producer Rosneft is to launch a trading division in Singapore aimed at increasing crude sales in the burgeoning Asian oil consumer market. Rosneft exported one million barrels per day of crude oil to Asia-Pacific markets last year, which accounted for half the company's overseas crude sales, while in November it signed a one-year supply deal with China National Chemical Corp for 2.4 million mt of crude.