Russneft eager to bolster oil coop. with Iran

TEHRAN, Aug. 30 (MNA) – Deputy Iranian oil minister said Russneft was eager to launch cooperation with Iran on swap of crude oil as well as on expansion of Iranian oilfields.

Deputy Petroleum Minister of Iran for International Affairs Amirhossein Zamaninia made the remarks following a meeting in Tehran office on Monday with Otabek Karimov, Russneft Vice President (VP) in Commerce and Logistic, Andrey Laveez, the company's VP Chief Geologist and Vlada Rusakova, VP in gas business.

The Iranian side stressed that the Russian oil giant has also indicated willingness to join development projects in Iran's oil fields including Azadegan, Maroun, Koupal and Yaran projects.

The official said Russneft is also keen on cooperating with Iran in swap of crude oil and petroleum products.

Rosneft is pioneer of the Russian oil industry and the world's largest oil company in the field of trade. The main activities of the company include exploration and extraction of hydrocarbon reserves, production of oil, gas and gas condensate, carrying out upstream offshore projects, processing and marketing of oil, gas and petroleum products in Russia and overseas. The company is on the list of Russia’s strategic companies.

The majority of Rosneft assets are in Russia and other countries, including Venezuela, Cuba, Canada, USA, Brazil, Norway, Germany, Italy, Mongolia, Kyrgyzstan, China, Vietnam, Myanmar, Turkmenistan, Georgia, Armenia, Belarus, Ukraine, the UAE, Egypt, Mozambique, Iraq and Indonesia.

The geography of Rosneft's activity in exploration and production covers all major oil and gas areas, including Western and Eastern Siberia, the Volga and Ural regions, as well as abroad, including Latin America and Southeast Asia.

Rosneft is the largest state-owned corporation producing crude and condensate in the world by counting for about 40% of the Russian Federation's oil production and 6% of global output. The company's average daily production in 2016 stood at 4,660,000 barrels a day.

Given the growth in global production and use of gas as the greenest fossil fuel, Rosneft has decided to expand its share of hydrocarbon production. In 2016, the company's gas output increased by 7.3 percent to 67.1 billion cubic meters.

Russia Oil is also the leader of the Russian oil refining industry for supplying over 35 percent of Russian oil refining. The refinery and petrochemical complexes of the company include 13 major refineries located in important regions of the Eurasian country.


News Code 127385


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