Tuesday, February 17, 2009

Russia and China sign $25bn Deal

In exchange for loans to Russian firms, China will receive supplies of oil from Siberian fields up to 300,000 barrels of oil a day for 20 years. This comes as China looks to some African countries to supply their hefty oil demands. China is attempting to lessen it's dependence on any one region for it's oil supplies, especially it's dependence on the Middle East.

http://news.bbc.co.uk/nol/ukfs_news/hi/newsid_7890000/newsid_7895300/7895350.stm

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