China's oil source diversification strategy accelerates, 30% of oil comes from cross-border pipelines

On the 22nd, China and Russia signed a long-term oil supply agreement totaling 270 billion US dollars, letting people see the dawn of Sino-Russian energy negotiations that have been deadlocked for many years, and also see the progress of China's oil strategy. According to the oil supply agreement signed between PetroChina and Rosneft, Russia will increase the supply of crude oil to China year by year on the basis of the current 15-million-ton / year oil pipeline from the Sino-Russian crude oil pipeline (East Line), reaching 30 million tons / year in 2018. In the year, through the Sino-Kazakhstan crude oil pipeline (Western Line), on January 1, 2014, an additional 7 million tons of crude oil was supplied. After the Sino-Russian joint venture Tianjin Refinery was completed and put into operation, it will supply 9.1 million tons per year.