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    A plaque for the Rosneft Oli Company is seen outside the company headquarters in Moscow, Russia, in this file file photo dated Thursday, Oct. 18, 2012

    China's CNPC Says Ready to Consider Buying Stake in Russia's Rosneft

    © AP Photo / Mikhail Metzel, File
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    CNPC International Department Director-General said that China National Petroleum Corporation has not received any offer to take part in the privatization of Russia's Rosneft oil giant.

    BEIJING (Sputnik) China National Petroleum Corporation (CNPC) has not received any offer to take part in the privatization of Russia's Rosneft oil giant, but would consider buying a stake in the company if the price is right, CNPC International Department Director-General Li Yueqiang said Thursday.

    "As to Rosneft privatization, our company has not received any official invitation…But because our company is vertically integrated in terms of prospecting and development, if the price of Russian upstream assets will be reasonable and competitive for our country, we will be ready to consider cooperation in this area,"  Li Yueqiang told reporters in Beijing.

    The Russian government is expected to sell some 19.5 percent of Rosneft's shares owned by the state by the end of 2016.

    A contract between Russia's oil giant Rosneft and China National Petroleum Corporation (CNPC) on long-term oil deliveries to China will not be affected by current trends on global oil markets, CNPC International Department Director-General said.

    In 2013, Rosneft signed a long-term contract with CNPC, reportedly worth some $270 billion, to supply crude oil to China for the next 25 years.

    "It is a long-term contract, which is being implemented successfully. As to the volumes and prices, the terms have been set in strict adherence to standards and methods of calculation agreed in the contract," Li Yueqiang told reporters in Beijing.

    "There will be no changes," the official stressed.


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