·Chinese and Russian governments signed an oil cooperation agreement Tuesday.

· Wang Qishan said it marked a major breakthrough in China-Russia energy co-op.

·"We will provide steady, reliable supply of oil to China," Sechin said.

Chinese Vice Premier Wang Qishan (R, front) and visiting Russian Deputy Prime Minister Igor Sechin (L, front) shake hands after signing an agreement in Beijing, China, April 21, 2009. The Chinese and Russian governments signed an oil cooperation agreement on Tuesday, marking a major breakthrough in bilateral energy cooperation. (Xinhua/Li Xueren) Photo Gallery>>>

    BEIJING, April 21 (Xinhua) -- China and Russia officials signed an oil cooperation agreement here Tuesday, which Chinese Vice Premier Wang Qishan described as a major breakthrough in bilateral energy cooperation.

    The agreement was signed by Wang and Russian Deputy Prime Minister Igor Sechin during the fourth round Sino-Russian energy negotiators' meeting.

    The document meant cooperation agreements between Chinese and Russian companies could take effect, Wang told reporters. 

Chinese Vice Premier Wang Qishan (R) shakes hands with visiting Russian Deputy Prime Minister Igor Sechin during their talks in Beijing, China, April 21, 2009.(Xinhua/Li Xueren) Photo Gallery>>>

    China and Russia signed seven energy cooperation agreements in February, which included a pipeline construction project, a long-term crude oil trading deal and a financing plan between the China Development Bank and the Russia Oil Pipeline Transport Company.

    "With shared efforts of the governments, enterprises and banks of both sides, Sino-Russian energy cooperation has made substantial progress" since both prime ministers held their 13th regular meeting last year, Wang said.

    During the negotiators' meeting, Wang said energy cooperation was an important component of Sino-Russian strategic cooperation. It was also especially significant given the global economic downturn, as it showed the countries' willingness to work together for solutions, Wang said.

    Sechin said the agreement was unprecedented and bilateral cooperation would be permanent, with sound capital guarantees. "Sino-Russian energy cooperation is systematic, comprehensive and long term, and in accordance with the fundamental interests of the two countries," said Sechin.

    Russia had started building the pipeline and infrastructure construction would soon be finished, Sechin said. "We will provide steady, reliable supplies of oil to China," he said.

    Tuesday's talks also covered cooperation in natural gas, nuclear energy, coal, electric power and the production of equipment for energy development.

Russian government approves pact with China on oil pipeline, supplies

    MOSCOW, April 13 (Xinhua) -- The Russian government on Monday approved an agreement with China on building a branch of the Eastern Siberia-Pacific Ocean (ESPO) oil pipeline toward China and long-term Russian oil supplies.

    After a cabinet meeting that discussed the agreement, which was signed in February, Regional Development Minister Viktor Basargin told reporters: "The decision has been made."  Full story

China, Russia to enhance mutual investment with more flexibility

    BEIJING, March 27 (Xinhua) -- Chinese and Russian officials said the two countries would increase mutual investment in a more "flexible" and "pragmatic" way.

    The National Development and Reform Commission (NDRC) of China and the Ministry for Economic Development (MED) of the Russian Federation had reached consensus to expand collaboration in the fields of energy, machinery manufacturing and industrial chemicals, said NDRC director Zhang Ping at the China-Russia Investment Forumon Friday.  Full story