Rosneft strengthens top management's carbon management commitment

AK&M 03 August 2020 13:49

Rosneft has strengthened its senior management team's carbon management commitment, according to the company's 2019 sustainable development report citing Didier Casimiro, first Vice President and Chairman of the carbon management subcommittee of Rosneft.

In particular, the company established a carbon management subcommittee to determine further emission reduction activities at production facilities taking into account the previously taken measures.

Rosneft is the leader of Russia's petroleum industry and the world's largest publicly traded petroleum company. The Company's main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas condensate production, upstream offshore projects, crude processing, as well as marketing of oil, gas, and refinement products in Russia and abroad.

The company is on the list of strategic enterprises in Russia. Its principal main shareholder (40.4% of shares) is Rosneftegaz wholly owned by the Government of Russia, while BP owns 19.75% of shares, QH Oil Investments LLC holds 18.93% of shares, one share belongs to the Government represented by Russia's Federal Agency for State Property Management (Rosimushchestvo).

IFRS net profit attributable to Rosneft shareholders for 2019 increased by 29% to RUB 708 billion from RUB 549 billion a year earlier. Sales revenue and equity share in profits of associates and joint ventures went up 5.3% to RUB 8.676 trillion from RUB 8.238 trillion, EBITDA increased by 1.2% to RUB 2.105 trillion from RUB 2.081 trillion.