Russia's state-owned oil giant Rosneft has approved a -year energy efficiency program that will shave more than 35 billion rubles ($1 billion) off its costs, the company said in a statement published on their website Friday.
Announcing the plan, Rosneft boasted that its previous -year efficiency plan, which ran to 2013, had saved the company 12 billion rubles ($344 million).
Besides being Russia's number one oil company, reporting revenues of 4.7 trillion rubles ($135 billion) last year, Rosneft is also one of Russia biggest energy users, accounting for 3 percent of Russia's total electricity consumption.
Under the new -year-plan, Rosneft will introduce a system of energy management and international certification to reduce power expenditure in its 36 most energy-consuming subsidiaries. Less aggressive measures will affect all of Rosneft's 96 subsidiaries.