Russia’s Rosneft signed agreements with China Petrochemical Corp. (Sinopec) on buying 30% of the stake of the latter on September 3, according the Sputnik.
The agreement was signed by Chairman of Board of Rosneft Ignor Sechin and Chairman of Board of Sinopec Wang Yupu during Russian President Vladimir Putin’s visit to Beijing’s V-Day parade, marking 70th anniversary of the victory of WWII.
According to Rosneft, the agreement settles initial negotiation of the price, structure of the trade, and some management issue.
Ignor Sechin, after signing the agreement, says, “Rosneft will exchange stakes with the part of Sinopec that participates in the Far East oil projects. Rosneft will gain the stakes of Sinopec’s petrochemical complex of the part within China.”
'Enemy planes' intercepted by Hongqi-7B air-defense missiles
Blind date with bikini girls in Nanjing
Amazing photos of Chinese fighter jets
Chinese soldiers participate in training for V-Day parade
Painting: Lonely women in Forbidden City
China and Russia hold joint drill in Sea of Japan
'Goddess' in Taiwan McDonald's
Female soldiers at military parades
Photos of campus belle doing splits go viral
Best blade forward
Infographic: Parsing China's massive V-day parade
Giant panda cub receives medical care in Guangzhou
China celebrates 70th Anniversary of Victory of World Anti-Fascist WarDay|Week
