Rosneft and Chinese energy company CEFC, at the margins of the APEC Summit, have signed an agreement to perform a joint study into the possible construction of a petrochemical facility in Hainan Province.
The companies will set up joint working teams to discuss technical configurations of the project as well as commercial and economic matters.
The parties intend to perform a joint analysis of long-term supply of feedstock for petrochemical facility in Hainan and to explore various options for project product monetisation.