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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.

Rosneft wants to reduce greenhouse gas emissions by 8 million tonnes by 2022. Russia is the world’s fourth-largest greenhouse gas emitter after China, the United States, and India.

The major expansions and deals by Rosneft are mentioned below:

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 Rosneft’s 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.

July 2019: Rosneft announced the acquisition of St. Petersburg’s leading independent fuel operator – Petersburg Fuel Company (PFC). The deal helped Rosneft to become the leader in the filling station market in St. Petersburg and Leningrad Region, one of the biggest in the Russian Federation. The deal has been approved by the corporate procedures of Rosneft Oil Company.

 

About Rosneft

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.

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