Rosneft posts its production plans

According to the development strategy till 2020 developed by the Rosneftoil and gas company, the company is planning to produce up to 35-45 milliontons of oil and 70-80 cubic meters of gas per year, to increase itscapacities for primary processing of produced materials to 30-35 milliontons and to expand its retail network of filling stations to 1,000 outlets.This information was released at a meeting of Rosneft's board of directorson September 13, 2002, the press service of the company reported.It is also planned to increase the production of electrical energy to 10-20billion kilowatts per hour and to produce 35-40 million tons of coal peryear. The total amount of stores of Rosneft's coal deposits is estimated at200 million tons.The company's top managers are sure that this will be possible due to theimplementation of three basic principles of business development: thecomplex use of all energy resources (oil, gas, coal and electrical energy)in a single technological cycle; the full meeting of needs for energy atthe sites of its consumption; and the optimization of commodity transportflows.Taking this as a basis, Rosneft's strategic priorities for the long termare increasing the gas share, exploration of energy markets of the Far Eastin Russia and Asia-Pacific countries, strengthening the company's positionson the markets of Central Russia and Western Europe, the diversification ofbusiness in the energy industry, including alternative kinds of energy,petroleum and gas chemistry, forming highly-qualified team ofprofessionals, providing the safety of production and the intensificationof innovative activities..

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