Russian oil giant Rosneft and Chinese state firm CNPC signed Friday a $270 billion deal to supply China with oil over 25 years as Russian President Vladimir Putin pushes to diversify the country's energy customer base away from Europe.
Vladimir Putin opens the Russia-China oil pipeline in the far eastern region of Amur, on August 29, 2010. Russian state oil company Rosneft and China's CNPC have signed a $270 billion deal to supply China with oil over 25 years.
The agreement between Russia, the world's largest energy producer and China, the world's largest energy consumer -- one of the biggest deals in the history of world oil industry -- was signed by Rosneft chief executive Igor Sechin and CNPC head Zhou Jiping in the presence of Putin.
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