BREAKING NEWS:
Home »World » Global Business & Economy » China, Russia oil pipeline delivers 100mn tonnes

HARBIN: A China-Russia oil pipeline has transported 100 million tonnes of crude oil in the five years since it began operations, local customs said Saturday.

The pipeline delivers oil from Russia's far-eastern region to China through its northeastern provinces.

The 1,000-km line originates in the Russian town of Skovorodino in the Amur region, enters China at Xingan and terminates at Daqing City in Heilongjiang Province. It went to use on January 1, 2011.

The pipeline has reduced costs and raised the efficiency of China's oil imports from Russia, which had previously relied on rail.

According to the agreement between the two countries, the pipeline will transport 15 million tonnes of crude oil from Russia to China each year until 2030.

China consumed about 560 million tonnes of crude oil in 2016, 65 percent of which were imported, and both oil consumption and the proportion imported will continue to rise, according to China National Petroleum Corporation, China's largest oil producer and supplier.

Copyright APP (Associated Press of Pakistan), 2017

the author

Leave a Reply

Your email address will not be published. Required fields are marked *

Close
Close
Top