From AFP: “The Russian state-owned oil company Rosneft, new owner of the main production subsidiary of the Yukos oil company, at the weekend announced a contract to supply China with 50 million tonnes of oil by 2010.
Rosneft vice-president Yury Matveyev announced signature of the deal in the Siberian city of Irkutsk, Itar-Tass news agency reported. He said deliveries would start on February 1 and reach 4 million tonnes next year. Yukos, once Russia’s largest oil exporter, is being dismantled by the government to pay off a $27 billion tax bill ” more than 10 times its market capitalisation.”
