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China Daily Website

CNPC, Rosneft sign $270b oil contract: Putin

Updated: 2013-06-21 21:44
( Xinhua)

SAINT PETERSBURG - China National Petroleum Corporation (CNPC) and Russian oil giant Rosneft have signed a long-term agreement for oil deliveries with an estimated value of $270 billion, Russian President Vladimir Putin said Friday.

"The contract is intended for 25 years," Putin said during the ongoing 17th St. Petersburg International Economic Forum.