Rosneft and bp to cooperate on carbon management and sustainability

Rosneft Oil Company and bp have signed a Strategic Collaboration Agreement focused on ‎supporting carbon management and sustainability activities of both companies. The agreement ‎builds on years of partnership between the two companies and formalises key elements of their ‎collaboration on sustainability and work to identify carbon reduction activities and low carbon ‎opportunities.

Based on their longstanding partnership and taking into account the profound changes shaping the ‎global energy transition to deliver more energy with less carbon, Rosneft and bp have agreed to ‎cooperate in identifying and developing new low carbon solutions and programmes that will support ‎their shared sustainability goals. The companies also intend to join efforts in aligning with developing ‎industry methodologies and standards on carbon management, including methane reduction ‎initiatives and energy efficiency applications.‎

The companies intend to work together on opportunities for low carbon solutions in downstream ‎businesses, including the development of advanced fuel as well as evaluate the potential for the ‎development of natural forest sinks and trading of forest carbon-offsets credits. The companies will ‎cooperate in sustainable development and social investment, including biodiversity.

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