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Keeping in mind the condition of its shares in the market, Russia based Rosneft approved a share buyback scheme of £1.5billion. It will help the company to become more attractive to investors. The buyback for upto 340 million shares will run till December 31, 2020. An independent agent will be appointed by the firm to execute the buyback. Rosneft hiked its Q2 daily production quota to 4.6 million bpd.