By Olesya Astakhova
KRASNOYARSK, Russia, June 21 (Reuters) - Russia's Rosneft, the world's top listed oil producer by output, has anopportunity to increase its market share if there are shortagesin the global oil market, Chief Executive Igor Sechin said onThursday.
Rosneft, with BP and Qatar among its shareholders,accounts for around 40 percent of Russia's total oil productionand is key to Moscow sticking to its commitments under theglobal oil output cut deal by OPEC and some non-OPEC countries.
"Today, the market is quite united in expectations of thestructural oil deficit in the next 10 years, as growing demandcomes along with a fall in production," Sechin told a Rosneftshareholders meeting.
Sechin, Russia's most influential oil executive and a closeally of President Vladimir Putin, said an oil deficit of around700-750 million tonnes a year was estimated by 2025.
His presentation said that to avoid a global shortage, 15million barrels of oil per day (bpd) in new production globallywould be needed.
OPEC+ countries meet in Vienna this week to discuss apossible increase in production.
"For Rosneft ... such a situation creates a uniqueopportunity to increase global market share," Sechin said.
He did not say by how much Rosneft was ready to increase itsproduction if it was decided to ease global cuts from July 1.
Alexander Novak, Russia's energy minister, has said Moscowwould propose a gradual - and proportional by all countries -increase in oil output by 1.5 million bpd from next month.
Current global curbs remain at 1.8 million bpd, of whichRussia has pledged 300,000 bpd. Rosneft's oil production was at4.52 million bpd last year.
Rosneft plans to increase its oil and gas output to 330million tonnes of oil equivalent by 2022, Sechin told theRosneft shareholders meeting, with new oil and gas projectsexpected to yield 87 million tonnes of oil equivalent.
Without giving figures, Sechin also promised shareholders a"material" increase in dividends for 2018, saying the board ofdirectors would meet soon to discuss parameters of a share buyback announced by the company earlier.(Additional reporting by Vladimir Soldatkin and MariaTsvetkova; Writing by Katya Golubkova; Editing by Tom Hogue andDavid Evans)
BP (BP.)
