Rosneft eyes more prepayment deals

摘要

Russian state-controlled Rosneft aims to sign more long-term crude supply agreements with prepayment, similar to those that it signed earlier this year with trading firms Vitol, Glencore and Trafigura, and with China’s state-owned CNPC. Prepayment agreements secure Rosneft healthy margins on crude deliveries and offer access to financing that it does not have to list as debt in its financial statements, company vice-president for economics and finance Svyatoslav Seslavinsky says. Rosneft expects to receive around half of a $67bn prepayment for increased crude shipments to China this year (WPA, 26 July, p9).