Rosneft and ExxonMobil to Cooperate in Carbon Management

Note for Editors:

Rosneft is a member of the UN Global Compact, thus confirming its commitment to the highest principles of sustainable development. Rosneft publishes details of its ESG activities annually in its sustainability reports.

In 2020, the Company developed an Environmental Vision, which, along with the 2035 Carbon Management Plan, has become a key component of Rosneft’s long-term environmental agenda, defining the basic principles of its environmental activities.

The Environmental Vision combines three priority areas as follows:

• carbon management,
• biological diversity preservation, and
• environmental protection activities (water and air protection, land remediation, industrial waste management).

Rosneft shares and actively supports international and national climate change goals. In 2020, Rosneft was the first Russian oil and gas company to set climate targets through 2035 as part of its Carbon Management Plan. The plan includes:

• Prevention of direct and indirect greenhouse gas emissions of 20 million tonnes CO2-equivalent.
• A 30% reduction in the intensity of direct and indirect emissions in oil and gas production.
• A methane emission rate below 0.25%.
• Zero routine flaring of associated gas.

The Carbon Management Plan also envisages zero routine flaring of associated petroleum gas. This indicator has already reached the target 95% at some of Rosneft’s subsidiaries, including Samotlorneftegaz, RN-Vankor, RN-Purneftegaz, Kharampurneftegaz, North Chaivo, Bashneft Dobycha, Sorovskneft, etc.

The Company is developing cooperation in carbon management and sustainability with foreign partners. Rosneft entered into cooperation agreements with BP, Baker Hughes, and Ministry of Economy, Trade and Industry of Japan (METI) to assess, among other things, the prospects for decarburization (the use of CO₂ capture, utilization and storage technologies).

The Company’s activities are highly praised by the global investment community that considers socially responsible investments a long-term trend. FTSE Russell, a division of the London Stock Exchange, has confirmed that Rosneft is a member of the FTSE4Good Index Series - in terms of its indicators, the Company is ahead of 90% of the participants in the international oil and gas industry rating of the Industry Classification Index (ICB supersector).

Rosneft is recognized as the leading Russian oil and gas producer in a number of international ESG ratings, including Refinitiv and Bloomberg. In April 2021, the international agency Sustainalytics twice improved the Company’s position in its rating. With a score of 33.9, Rosneft became the best among Russian oil and gas companies.

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.

ExxonMobil is an industry leader in CCS technology. The company has an equity share in about one-fifth of global CO₂ capture capacity and has captured approximately 40 percent of all the captured anthropogenic CO₂ in the world. Earlier this year, ExxonMobil established its Low Carbon Solutions business, and is currently evaluating multiple new CCS opportunities around the world that have potential to be commercially viable with supportive policies. The business is also evaluating strategic investments in biofuels and hydrogen to bring those lower-emissions energy technologies to scale for hard-to-decarbonize sectors of the global economy.

To learn more, visit exxonmobil.com, the Energy Factor and Carbon capture and storage | ExxonMobil.