The leading petroleum company, bp signed a strategic collaboration agreement with Rosneft Oil Company on supporting carbon management and sustainability activities of both companies. The partnership will shaping the global energy transition to deliver more energy with less carbon.
- The companies also intend to join efforts in aligning with developing industry methodologies and standards on carbon management, including methane reduction initiatives and energy efficiency applications.
- Rosneft and bp will also jointly evaluate new projects envisaging the use of renewables, opportunities for carbon capture, utilisation and storage (CCUS), as well as developments for hydrogen.
The major expansions and deals by Rosneft are featured below:
February 2020:The leading oil and gas company Rosneft commits to invest $5 billion for environmentally friendly projects over the next five years. The company would invest in projects such as restricting CO2 emissions and the utilization of associated petroleum gas.
February 2020: Rosneft Oil Company signed a contract with Indian Oil Corporation Limited (IOCL) to supply up to 2 million tonnes of oil to India via the port of Novorossiysk by the end of 2020.
January 2020: PJSC Rosnefts subsidiary Rosneft Deutschland GmbH, has completed the deal to acquire a 3.57% stake in Bayernoil Raffineriegesellschaft mbH from British BP. As a result of this deal, Rosneft increased its shareholding to 28.57% from 25%.
October 2019: PT Pertamina Rosneft Pengolahan dan Petrokimia, a joint venture of PJSC Rosneft Oil Company and Indonesian state oil and gas company Pertamina, signed a contract with Spanish Tecnicas Reunidas SA to carry out the Basic Engineering Design (BED) and the Front-End Engineering Design (FEED) project for the construction of oil refinery in Tuban, Indonesia.
BP, a London based oil and gas leader, committed to a low carbon future, developing energy products and services with fewer emissions. The Company produces oil and natural gas, involved in refining, marketing, and distribution of petroleum products. The Company also generates energy from renewable resources that include solar energy, Wind energy, and Biofuels.
BP Portfolio: In solar energy, BP has a 43% share in Lightsource BP and playing a key role in developing solar energy around the world. In wind energy, BP generates more than 1,000MW of energy from nine sites in the USA and holds an interest in another facility in Hawaii. And in Biofuels segment, BP joint venture with Bunge and formed BP Bunge Bioenergia is a leading bioenergy company with 11 biofuels sites in Brazil.
Rosneft, headquartered in Mosco, Russia, is the largest global public oil and gas corporation. The company is focused on exploration and appraisal of hydrocarbon fields, production of oil, and gas, offshore field development projects, retail of oil, gas, and refined products in the territory of Russia and abroad.
The company has 13 refineries in Russia and around 78 operating regions in the country. Rosneft is a global energy company with operations in more than 25 countries in the world. The Company is operating in Russia, Venezuela, the Republic of Cuba, Canada, USA, Brazil, Norway, Germany, Italy, Mongolia, Iraq, Kirghizia, China, Myanmar, Turkmenistan, Georgia, Armenia, Belarus, Vietnam, Ukraine, Egypt, Mozambique, and Indonesia.