Russia Says Its Will Not Renew Oil Contract With China After 2010

Russia has said that after 2010 it will not be renewing the oil supply contract that it has with China, unless China offers better terms on the deal.

The state controlled oil company, Rosneft, made this announcement as Russia is building its first direct pipeline to China.

This oil pipeline will supply China with 600,000 barrels per day, and it is due to come on stream in 2008.

Do you really think Russia will stop supplying oil to China?

If they do they will have wasted all that money on the pipeline.

What do you think?

Source

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