The Russian oil and gas company Rosneft has increased the amount of its proven hydrocarbon reserves by 6% (2,135 mboe or 284 Mt) in 2017, up to 39,907 mboe (5,395 Mt). As of December 2017, the company's proved reserves total life reached 20 years, ensuring a hydrocarbon reserves replacement ratio of 184%.
The company recently acquired a significant number of new production licenses, thus boosting its reserves and requested permission to export liquefied natural gas (LNG) from its projected Pechora LNG plant. However, this was refused by the Russian government and Rosneft is still not allowed to export natural gas because it could be in conflict with the interests of the state-run company Gazprom and undermine its monopoly.
Rosneft's largest shareholder it Rosneftegaz (fully-owned by the Russian government) while the remainder is held by BP (19.75%) and QHG (19.5%).