The largest Russian oil company Rosneft has completed the buyout of 847 954 shares of stock from minority owners of the company. The company paid out more than RUR 133 million to facilitate the buyout.

The shareholders, to whom Rosneft extended the buyout offer, had earlier decided not to vote for the contract Rosneft made with China’s state-owned companies for the supplies of oil in consideration for the provision of financing for the China pipeline project.

Rosneft will export 15 million tons of oil to China per year until 2031. China agreed to loan USD 15 billion to Rosneft and another USD 10 billion to Transneft for constructing the pipeline running across the Russian border. This agreement has been made in June of 2009.