Subscribe free to our newsletters via your
. Energy News .

China media hail Russia ties after $85 bn oil deal
by Staff Writers
Beijing (AFP) Oct 23, 2013

Chinese state media hailed the "huge potential" of ties with Russia Wednesday after a $85 billion oil deal, with analysts saying the cooperation masks Moscow's unease at Beijing's surging influence in Central Asia.

The framework arrangement between Rosneft, the world's biggest listed crude oil producer, and Chinese oil giant Sinopec was announced during a visit by Russian Prime Minister Dmitry Medvedev, when around 20 agreements in various fields were signed.

Medvedev said in an online chat with Chinese Internet users: "That means 100 million tonnes over the next decade, worth a total of $85 billion.

"This is a large sum of money for any single country, even for China," he added.

"Bilateral relations have never reached such high levels. It is a good thing because we are neighbours," he said in the chat, hosted at the Beijing headquarters of China's official news agency Xinhua.

The government-run China Daily carried the news of his visit on its front page Wednesday, as did the Global Times, which is close to the ruling Communist party.

"China and Russia have supported each other on the global stage on issues of common concern," the paper said in an editorial.

"Their promise of all-round partnership calls for more concerted follow-up efforts. Energy and technological cooperation and mutual investments, in particular, have huge potential to be tapped," it added.

In his online chat, Medvedev said that Russia and China aim to boost their annual two-way trade volume to $100 billion by 2015 and $200 billion by 2020, from $88 billion currently.

Jingdong Yuan, an associate professor of political science at the University of Sydney specialising in Chinese defence and foreign policy, said that from Russia's perspective, "despite the positive developments, China's continued rise remains something Moscow has to swallow and China's growing influence in Central Asia is not something it is happy to see".

"But for the moment, these perceptual and other issues that could divide them have been well managed to allow both to focus on the more positive and also more imminent challenges they face," he added.

In his online chat, Medvedev proclaimed himself a fan of Chinese philosopher Lao Tze and said he believed it was "normal practice" for leaders around the world to disclose their income, assets and property.

The remark that could ruffle feathers among the leadership in China, where campaigners calling for such a move have been detained.

The two countries often cooperate at the UN Security Council nowadays but during the Cold War they were allies at times and divided at others.

Medvedev's visit -- which coincided with journeys to China by Indian Prime Minister Manmohan Singh and Mongolian Prime Minister Norov Altankhuyag -- was due to conclude Wednesday with a trip to the eastern province of Anhui.


Related Links
Powering The World in the 21st Century at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

China heads to South America in global energy 'scramble'
Shanghai (AFP) Oct 22, 2013
China's global hunt for crucial energy supplies is taking it into America's backyard, with two Chinese state firms winning production rights to a multi-billion-barrel deepwater oilfield off Brazil. China National Petroleum Corp. (CNPC) and China National Offshore Oil Corp.(CNOOC) each took a 10 percent stake in Brazil's "Libra" field, alongside three other companies, at an auction on Monday. ... read more

Russia switches Greenpeace piracy charge to 'hooliganism'

US power plant pollution declines 10 percent from 2010

Firms eye power generation in post-Fukushima Japan

South Korean president calls for global energy cooperation

UMD Researchers Address Economic Dangers of 'Peak Oil'

Uniformity: the secret of better fusion ignition

China media hail Russia ties after $85 bn oil deal

China heads to South America in global energy 'scramble'

Spain launches first offshore wind turbine

Key German lawmaker: End renewable energy subsidies by 2020

Installation of the first AREVA turbines at Trianel Windpark Borkum and Global Tech 1

Trump's suit to halt wind farm project to be heard in November

New NRDC Crowdfunding Campaign to Connect Schools to Solar Power

ecoSolargy's End-To-End HDPV Solution Reduces PV System Costs

Santerno Introduces New PV Power Plant Controller that Provides Single Point of Control

Solar Grid Storage and AllCell Partner to Help Ensure Grid Stability

EU to examine govt aid for UK nuclear deal

India starts up controversial Russia-backed nuclear plant

British nuclear plant deal seen as spur to more development

UN atomic agency suffers 'malware' attack

Scientists Identify Key Genes for Increasing Oil Content in Plant Leaves

Ethanol Safety Seminar Planned in Tacoma

US Biodiesel Production Surpasses Set Target for Second Straight Year

AREVA awarded a contract for the construction of a biomass power plant in the Philippines

Is China Challenging Space Security

NASA's China policy faces mounting pressure

Ten Years of Chinese Astronauts

NASA vows to review ban on Chinese astronomers

ADB urges East Asian giants to work together on climate change

Investment to limit climate change is lagging: study

US Supreme Court to hear greenhouse gas cases

'Stadium waves' could explain lull in global warming

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement