Rosneft plans to boost output by 29% in 2030 compared with 2020

MOSCOW, Dec 21 (PRIME) -- The board of directors of Russian oil company Rosneft has approved a strategy to increase oil output by 29% to 330 million tonnes of oil equivalent in 2030 as compared with 2020, the company said in a statement on Tuesday.

The new strategy takes into account contemporary tendencies connected to the environmental agenda, the global energy transition, and the need of reliable supplies of affordable and clear energy.

Rosneft plans to reach carbon neutrality in 2050 in the first and second scopes of carbon emissions. The company expects to achieve that through reduction of emissions and improvement of energy-saving technologies, as well as utilization of low-carbon power generation, carbon entrapment technologies, and the potential for natural absorption of carbon, Rosneft said.

The company also quoted CEO Igor Sechin as saying that the new strategy should double Rosneft’s free cash flow until 2030 and ensure sustainable growth of shareholder and investor value. The carbon reduction goals of the company confirm its status of a responsible energy supplier and one of the leaders of the energy transition in Russia, Sechin said.

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