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    Oil purchases by China and India could exceed US estimates

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    Central American Development Bank Grants $800mn Loan On Fuel Relief

    Russia Counters EU Oil Ban

    Russia Counters EU Oil Ban Vowing It Will Find Other Buyers

    Quest For Russian Gas Options By Europe Hits Roadblocks

    Quest For Russian Gas Options By Europe Hits Roadblocks

    TotalEnergies signs agreements for the development of low carbon natural gas projects

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    BP begins gas production at West Nile Delta project

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    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

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    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

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    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

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    US Polyethylene Export Market Report 2017-2020

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    Angolan exploration and production to drive Africa cumulative capital expenditure

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    Europe’s largest green hydrogen plant showcased at Dubai Expo on Spain Day

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    Neptune Energy increases production from Gjoa platform

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    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

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    Aramco announces second quarter and half-year 2021 results

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    Empire Petroleum buys US oil and gas assets from ExxonMobil

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    bp agrees to sell its petrochemicals business to INEOS

    bp agrees to sell its petrochemicals business to INEOS

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    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

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    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

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    ExxonMobil earns $3.2 billion in third quarter 2019

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    Russian Gas Supply Limits Forcing Coal Return In Europe

    Russian Gas Supply Limits Forcing Coal Return In Europe

    Oil purchases by China and India could exceed US estimates

    Oil purchases by China and India could exceed US estimates

    Rosneft Expands Range of Petrochemicals Sold at SPIMEX Exchange Trades

    Biden Says Far Above Normal Refinery Profitability Not Fair

    Can African Oil Producers help the world end reliance onRussian Oil and Gas?

    Oil Supply Is Expected To Trail Behind Demand Next Year

    Central American Development Bank Grants $800mn Loan On Fuel Relief

    Central American Development Bank Grants $800mn Loan On Fuel Relief

    Russia Counters EU Oil Ban

    Russia Counters EU Oil Ban Vowing It Will Find Other Buyers

    Quest For Russian Gas Options By Europe Hits Roadblocks

    Quest For Russian Gas Options By Europe Hits Roadblocks

    TotalEnergies signs agreements for the development of low carbon natural gas projects

    TotalEnergies starts pullback from Russia with $4 billion writedown

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil makes three new oil discoveries offshore Guyana

  • Projects
    Global oil and gas projects pipeline at US$4 trn

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Angolan exploration and production to drive Africa cumulative capital expenditure

    Angolan exploration and production to drive Africa cumulative capital expenditure

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Neptune Energy confirms oil and gas discovery at Hamlet in the North Sea

    Baker Hughes to expand carbon utilization portfolio with power-to-gas solution

    Baker Hughes launches subsea wellhead technology to lower well construction, installation costs

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    South Sudan to take over oil operations in nationalization drive

    Shell will sell Russian fuel stations as part of exit plan

    Guyana and Exxon in talks to build offshore gas pipeline

    Europe's largest green hydrogen plant showcased at Dubai Expo on Spain Day

    Europe’s largest green hydrogen plant showcased at Dubai Expo on Spain Day

    Neptune Energy increases production from Gjoa platform

    Neptune Energy increases production from Gjoa platform

    Shell starts up hydrogen electrolyser in China with 20 MW production capacity

  • Market Reports
    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Aramco announces second quarter and half-year 2020 results

    bp agrees to sell its petrochemicals business to INEOS

    bp agrees to sell its petrochemicals business to INEOS

    Empire Pipeline Acquires Gibson Terminal In Terrebonne Parish, Louisiana

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

    Renewables: Total Continues to Expand its Footprint in Southeast Asia in Distributed Solar

    ExxonMobil earns $3.2 billion in third quarter 2019

    ExxonMobil earns $3.2 billion in third quarter 2019

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Rosneft approves new strategy as step towards 2050 net zero emissions

venkat by venkat
December 28, 2021
in News
0
Chesapeake Energy acquires Vine Energy in $2.2 billion deal

Russia’s largest oil producer Rosneft said  that its board has approved new strategy through to 2030 with the aim of achieving net zero emissions by 2050, earlier than President Vladimir Putin’s deadline.

Climate scientists have said the balance between the greenhouse gases we emit and those removed from the atmosphere must be zero by 2050 to prevent catastrophic levels of global warming.

Russia, the world’s no. 4 GHG emitter, however, has said it targets carbon neutrality by no earlier than 2060. Rosneft, in which BP holds an almost 20% stake, said the company will reach its emission targets “through a number of actions,” including low-carbon power generation, eliminating routine flaring of gas and energy-saving and CCS technologies.

As part of efforts to reach that goal, the share of natural gas in total hydrocarbon production will grow to 25% by 2025. Achieving a set of strategic targets is expected to contribute to a more than doubling of the company’s free cash flow by 2030, said Rosneft, which is managed by Igor Sechin, a close ally of President Vladimir Putin.

The “Rosneft-2030” strategy also targets hydrocarbon production of 330 MM tons of oil equivalent per year, it said. Output growth will be driven mainly by the flagship Vostok Oil project, large new projects, and gas projects.

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