Russia Prepares Espo Legal Action

摘要

Russian state giants Rosneft and Transneft are gearing up to take China National Petroleum Corp. (CNPC) to court after a new round of talks on the price the Chinese should be paying for deliveries of East Siberia-Pacific Ocean (Espo) crude failed to produce a breakthrough. The Russians say CNPC has been underpaying for the oil since early this year and now appear to have run out of patience. "Our lawyers are working with Rosneft on joint ac- tions in order to take the Chinese to the London court," a Transneft spokesman told Nefte Compass fol- lowing talks with officials from China Development Bank.