Rosneft engages in the exploration, development, production and sale of crude oil and gas, petroleum products and petrochemicals as well as marketing of outputs. The company also engages in refining, transportation and sale of petroleum products. It owns and operates two refineries, proprietary marine terminals, shipping and pipeline companies, as well as marketing businesses. The company operates within the following business segments: Exploration & Production and Refining & Distribution. The Exploration & Production segment is engaged in the field of exploration and production of crude oil and natural gas. The Refining and Distribution segment engages in processing crude oil and other hydrocarbons into petroleum products, as well as the purchase, sale and transportation of crude oil and petroleum products. The company was founded in 1993 and is headquartered in Moscow, Russia.