Russian Oil Company is in process of purchasing 30% stake of ChemChina. The company has signed a contract with China National Corp, stating the delivery to China of 2,00,000 tons of crude oil on monthly basis for one year. Rosneft and ChemChina has signed a memorandum concluding the purchase of 30% stake of ChemChina by Rosneft. This will further lead to bilateral cooperation in the area of oil, oil products and petrochemical trading.
