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4/17, 8:57 AM (Source: TeleTrader)
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Rosneft invests $3.75B in green energy since 2014

Russian oil giant Rosneft said on Wednesday it has invested over 240 billion rubles ($3.75 billion) in green energy over the past five years and added it plans to to reduce flaring of associated petroleum gas to less than 5% by 2021.

"This challenge is being tackled with a comprehensive approach to field infrastructure construction: the creation of infrastructure for collection, use and shipment of gas to consumers or reinjection of gas into the bed," Rosneft's director of industrial health, safety and environmental management, Valery Markeyev, stated.

The oil giant added that it also struck a deal with Beijing Gas to build about 170 natural gas stations across Russia. "Ten compressed natural gas modules were already built last year at existing filling stations, which will make it possible to reduce harmful emissions," Markeyev stressed.

Breaking the News / NP