China Just Inked A Trifecta Of Energy Deals Worth Over $5 Billion With Russia

China Russia

China and Russia are continuing their love in by signing yet another series of oil and energy agreements that bolster ties between the two countries state-backed companies.

The biggest of the three deals is an oil production agreement between Rosneft, the Russian company, and the China National Petroleum Corp. to build a 13 million ton per year oil refinery, according to China Daily.

The deal is estimated to be worth $5 billion right now, as it is just focused on the plant’s construction.

After, the two companies plan on building 500 stations throughout the country, for what appears to be the delivering of gas to automobiles.

The other two deals involve coal.

The two are already working together, both bilaterally and through the Shanghai Cooperation organisation, on other energy initiatives.

Check out 15 oil and gas pipelines changing the world’s strategic map >

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