Bloomberg News

Rosneft Seeks to Double Market Value by 2030, RBC Daily Reports

March 26, 2012

OAO Rosneft, Russia’s largest oil producer, plans to double its market value and become a global energy producer by 2030, RBC Daily reported, citing company documents.

The state-run oil company plans to find four or five strategic foreign partners over the period and will need to invest more than $120 billion in the next ten years, the Moscow- based newspaper reported, citing Rosneft’s development strategy to 2030.

Rosneft planned to publish the strategy last year, RBC said. The new strategy is 90 percent finished and parts have already been approved by the board of directors, the newspaper reported, citing an unidentified person close to the company.

To contact the reporter on this story: Scott Rose in Moscow at rrose10@bloomberg.net

To contact the editor responsible for this story: Scott Rose at rrose10@bloomberg.net


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