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Igor Sechin holds working meetings with foreign partners at SPIEF

16 June 2023

Igor Sechin, Chief Executive Officer of Rosneft, held a number of working meetings during the XXVI St. Petersburg International Economic Forum. 

Igor Sechin and Dai Houliang, Chairman of the Board of Directors of China National Petroleum Corporation (CNPC), discussed potential joint production projects and technological cooperation.

One of the key areas of cooperation between Rosneft and CNPC is oil supplies, the volume of which reaches 40 million tons per year under existing contracts. At the same time, the companies have now switched to payments for crude oil in national currencies. Cooperation between Rosneft and CNPC makes a significant contribution to achieving the $200 billion trade target set by the leaders of the two countries. The volume of trade between Russia and PRC is expected to exceed this level as early as in 2023.

An important area of Rosneft and CNPC joint activity is the holding of the Russian-Chinese Energy Business Forum. A direct dialogue between Russian and Chinese energy companies remains one of the most effective tools for increasing the bilateral trade turnover. The Forum is officially supported by the leaders of the two countries - the President of the Russian Federation Vladimir Putin and the President of the People's Republic of China Xi Jinping. The fifth anniversary forum will welcome its guest in China in the autumn of 2023.

On the sidelines of SPIEF 2023 Igor Sechin also had a working meeting with Jamshid Khodjaev, Deputy Prime Minister of the Republic of Uzbekistan. During the meeting, the parties noted with satisfaction the growth of trade turnover between the two countries. At the end of 2022, Russia became Uzbekistan's largest trade partner accounting for 18.6%. The growth of mutual trade amounted to 26% and exceeded $8.7 billion. At the same time, Russia remains one of the main suppliers of energy resources to Uzbekistan, its share in imports being about 32%.

In early 2023, the Presidents of Russia and Uzbekistan set a goal to expand cooperation in the energy sector. To this end, the parties discussed the possibility of increasing Rosneft's supplies of oil products to Uzbekistan. 

Igor Sechin and Mongolian Minister of Energy Battogtokhin Chojilsuren discussed such areas of cooperation as the supply of Russian oil products, participation of Russian companies in the modernization and development of the Mongolian electric power industry, and joint humanitarian projects as well.

Rosneft has been operating in Mongolia's oil products market since 2005, providing reliable fuel supplies to the country.

Since 2014, Rosneft has supported studies of Mongolian students in Bachelor Programs at Russian universities (Lomonosov Moscow State University, Moscow Institute of International Relations of the Ministry of Foreign Affairs of Russia (MGIMO), National University of Oil and Gas “Gubkin University”). Presently, 30 people have successfully graduated and received Bachelor Degrees. Another 39 people continue their studies.

 Information Division
June 16, 2023