Oil be waiting

Two weeks after asking the Russian government’s help to repay its foreign debt, Rosneft, the state-owned oil company, will get some help from the Chinese government - in the form of a $12bn-$15bn export-backed credit as part of a long-term oil supply contract. The deal is to be signed in Moscow this week by the Russian and Chinese prime ministers. It shows how battered the Russian energy majors have been over the last months by declining oil prices, a stock market meltdown, Russia’s deterioratin...