Growth plans drive Russian oil giant's projects abroad

Subject

The Rosneft company's growth strategy.

Significance

Rosneft, Russia's largest oil company, is increasing its global footprint by acquiring upstream and refining assets around the world. It is also expanding its natural gas business but this is limited by legislation preventing it from exporting gas from Russia. International outreach in both the gas and oil sectors is designed to support company growth.

Impacts

• Experience gained abroad will help Rosneft develop its reserves in Russia and optimise its business.
• Rosneft's attempts to win gas export rights may be more successful if Gazprom fails to counter US shale gas penetration in Europe.
• The 2017 purchase of a 30% stake in Egypt's Zohr field magnifies Rosneft's position as an international player in the gas sector.