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  • MIL-OSI Russia: Rosneft Sign an Agreement of Cooperation in HR Training with Indian Management Development Institute and St. Petersburg State University

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    At the XXVIII St. Petersburg International Economic Forum, Rosneft concluded a trilateral agreement of cooperation in HR training with Management Development Institute (Gurgaon, Republic of India) and St. Petersburg State University (St. Petersburg State University).

    The document was signed by Igor Sechin, Chief Executive Officer of Rosneft, Nikolai Kropachev, Rector of St. Petersburg State University, and Professor Arvind Sakhai, Director of the Management Development Institute.

    The agreement provides for training Rosneft employees on joint programs of the St. Petersburg State University Graduate School of Management and the Gurgaon Management Development Institute, as well as exchanging knowledge and experience in the area of technology development in the oil and gas sector, improving the efficiency of operational management, logistics, artificial intelligence and digitalization, etc.

    Besides, there will be visits to Indian companies organized for the Company employees as part of joint educational programs to study current practices in the oil and gas sector.

    The implementation of this Agreement will facilitate developing a long-term mutually beneficial partnership between Rosneft, St. Petersburg State University and the Gurgaon Institute of Management Development, as well as addressing complex business objectives of the Company.

    Note:

    The Management Development Institute was established in 1973 by Industrial Finance Corporation of India. This is the first institute in India to receive the status of “Management Institute” and is one of the best business schools in India. The Institute has 2 international accreditations from AACSB (USA) and AMBA (UK). The Institute’s programs are also accredited by the National Board of Accreditation (NBA), which confirms their compliance with the quality standards of education in India.

    Since 2008 St. Petersburg State University has been a strategic partner university of Rosneft Oil Company. As part of cooperation, Rosneft and the St. Petersburg State University Graduate School of Management are implementing innovative professional development and retraining programs. Employee training takes place on the basis of the Institute of Higher School of Management of St. Petersburg State University. It is the only business school in Russia that is among the top 1% of the best business schools in the world, which is confirmed by the accreditations of the largest international associations EQUIS, AMBA and AACSB. Rosneft facilitates infrastructure development and supports best students and promising teachers. Over 1,500 Company employees have been trained for extended education programs over the period of cooperation.

    Department of Information and Advertising
    Rosneft Oil Company
    June 20, 2025

    These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: US Oil Production at Current Prices Peaks – Sechin

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    US oil production at current prices has probably reached its peak, Rosneft CEO Igor Sechin said at the Energy Panel of the XXVIII St. Petersburg International Economic Forum.

    Delivering a keynote speech, the CEO called the energy policy initially announced by the new US administration promising. However, most of these goals have not yet been achieved: tariff wars have led to a drop in oil prices, while taxes for the oil industry remain at the same level and interest rates have not been reduced. Given this backdrop, the number of active drilling rigs has fallen 9% to 439 over the past two months and oil production growth has stalled. In less than a year, the U.S. Department of Energy has lowered its forecast for U.S. oil production by the end of 2025 by 400 thousand barrels per day.

    “At current prices, the USA oil production appears to have peaked,” Sechin said, noting that Diamondback Energy and ConocoPhillips recently voiced this opinion. And Liberty Energy, an oilfield services company founded by U.S. Energy Secretary Chris Wright, expects a significant slowdown in drilling activity in the second half of this year, which should lead to a reduction in the U.S. drilling fleet by about 10% more. “Not surprisingly, against this backdrop, many shale players have already started cutting investments,” said Rosneft’s CEO.

    He noted that the sharp drop in oil prices this year has already led to a revision of investment plans. According to the IEA’s latest estimate, this year, for the first time in five years, global investments in oil exploration and production will drop by 6%, while in the U.S. the drop will amount to about 10%.  “I think this is just the beginning,” the CEO of Rosneft remarked.

    “The new head of the US Treasury Department, Scott Bessent, has repeatedly stated that the success of Trump’s second presidential term requires oil production growth in the US in the amount of three million barrels per day. This is part of a so-called “3-3-3 Plan” which also envisages cutting the US budget deficit down to 3% of GDP and reaching 3% of GDP increase,” Igor Sechin reminded.

    The CEO of the Company also asks the question, what difference does it make for the US market where these barrels will come from? “Quite possibly, those may be barrels produced in OPEC+ countries. Since late last year the alliance has consistently reiterated the need to ramp up production due to changes in consumption,” Sechin said.

    The CEO also noted that in addition to the interest of states, the interests of shareholders should be taken into account. Low oil prices in the current period do not allow many companies to maintain the same level of dividend payments and share buybacks, said the CEO of Rosneft. According to Rystad Energy experts, which Sechin cited, if the oil majors maintain their payments to shareholders, they will have to almost completely abandon investments or significantly increase their debt as early as this year.

    “The fall in prices has already started to affect the major players. BP and Chevron will reduce share buybacks by almost 60% and 30%, respectively , while Aramco has to build up debt to be able to pay dividends,” the CEO said.

    Department of Information and Advertising
    Rosneft Oil Company
    June 21, 2025

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: ROSNEFT OIL COMPANY 9M 2024 IFRS RESULTS

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    • 9M 2024 HYDROCARBON PRODUCTION AMOUNTED TO 193.4 MLN TOE
    • 9M 2024 LIQUID HYDROCARBON PRODUCTION EQUALED 138.3 MLN TONS
    • 9M 2024 GAS PRODUCTION TOTALLED 67.0 BCM 
    • 9M 2024 EBITDA AMOUNTED TO RUB 2,321 BLN
    • 9M 2024 NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS AMOUNTED TO RUB 926 BLN
    • 9M 2024 FREE CASH FLOW AMOUNTED TO RUB 1,075 BLN
    • 9M 2024 UNIT LIFTING COSTS AMOUNTED TO $2.8/BOE

    Rosneft Oil Company (hereinafter – Rosneft, the Company) announces its results for 9M 2024, prepared in accordance with the International Financial Reporting Standards (IFRS).

      9M
    2024    		 9M
    2023    		 % change
      RUB bln (except for %)
    Revenues from sales and equity share in profits of associates and joint ventures 7,645 6,612 15.6%
    EBITDA 2,321 2,403 (3.4)%
    Net income attributable to Rosneft shareholders 926 1,076* (13.9)%
    CAPEX 1,052 909 15.7%
    Adjusted free cash flow 1,075 1,157 (7.1)%

    * Revised due to completion of the 2022–2023 acquisition price allocation in 2023.

    Igor Sechin, Chairman of the Management Board and Chief Executive Officer of Rosneft said:

    “Due to the Russian Government’s decisions to cap oil production in addition to the quotas set by the OPEC+ agreement, Rosneft’s operating performance in the reporting period was under pressure. In this context, the Company has been taking additional steps to ensure stable financial results as well as aimed at achieving a sustainable corporate business model.

    The key rate increase resulted in the reduced efficiency of refinery modernization projects that require external financing. The outstripping growth of tariffs of natural monopolies and incremental anti-terrorist security costs exerted additional pressure on the refineries’ performance. In order to protect the shareholders’ interests and avoid losses, Rosneft has been considering the need to suspend refinery modernization projects. At the same time, meeting the domestic demand for quality petroleum products remains a priority.

    Continuous changes in the taxation system have a negative impact on the oil industry. In particular, in the reporting period, net income attributable to Rosneft’s shareholders was negatively affected by the income tax rate increase to 25% from 2025. In accordance with IFRS, this resulted in a restatement of a deferred tax with a negative income effect of RUB 0.2 trillion.

    However, efficient execution and improved development parameters of a number of our key projects afforded an opportunity to dramatically reduce the negative effect of these changes on our shareholders.

    The reported net income attributable to Rosneft shareholders was also negatively affected by the exchange rate revaluation of foreign currency liabilities due to the weakening of the national currency. For example, during the third quarter, the ruble weakened against the yuan by more than 10%.

    It is worth pointing out that net income attributable to shareholders adjusted for the non-cash effects mentioned above remained mainly unchanged year-on-year.

    Shareholders’ interests remain one of our key priorities. On November 8, the Board of Directors recommended an interim dividend of RUB 36.47 per share which resulted in the semi-annual dividend yield of 7.6%. In full compliance with the corporate dividend policy, a total of RUB 386.5 bln or 50% of H1 2024 net income is recommended to be distributed as dividends.

    In the context of high stock market volatility and taking into account our shareholders’ rights and interests, the Company has resumed its Share Buyback Program previously approved by the Board of Directors.”

    ESG

    In the reporting period, the Company continued to implement measures to achieve sustainable development goals under the ‘Rosneft-2030: Reliable Energy and Global Energy Transition’ strategy.

    Rosneft applies advanced technologies and state-of-the-art production methods to create a safe working environment and minimize the risk of occupational injuries and occupational illness. In 9M 2024, the Lost Workday Injury Severity (LWIS) improved by 33%.

    In 9M 2024, there were no gas, oil and water shows (release of oil, gas or water to the surface) during drilling operations at Company facilities. As part of efforts to minimize oil and petroleum product spills, measures were taken to replace field pipelines.

    In 9M 2024, as part of the corporate program to eliminate the environmental legacy, the area of contaminated land reduced by 7% and the volume of oily waste – by 12%.

    In October 2024, Rosneft entered the first quartile in the ESG transparency ranking of the Expert RA credit rating agency. The ranking was compiled based on the analysis of public information on the sustainability performance of 124 Russian companies in four main blocks: environment, society, corporate governance and non-financial reporting standards.

    Operating performance

    Exploration and production

    In 9M 2024, Rosneft liquid hydrocarbons production amounted to 138.3 mln tons (3,753 th. bpd). The indicator performance was primarily driven by the production cap in compliance with the decisions of the Russian Government.

    9M 2024 gas production amounted to 67.0 bcm (1,488 th. boepd). Greenfield projects in the Yamal-Nenets Autonomous District commissioned in 2022 account for over a third of the Company’s gas production.

    As a result, the Company’s 9M 2024 hydrocarbon production amounted to 193.4 mln toe (5,241 th. boepd).

    9M 2024 production drilling footage exceeded 9.1 mln meters. Rosneft commissioned over 2.2 th. new wells, 71% of which were horizontal.

    In 9M 2024, Rosneft conducted 1.2 th. km of 2D seismic and 4.8 th. sq. km of 3D seismic onshore Russia. The Company completed testing of 31 exploratory wells with a success rate of 84%.

    Vostok Oil Project

    As part of the Vostok Oil project, in 9M 2024 the Company completed 0.7 th. linear km of 2D seismic and 0.6 th. sq. km of 3D seismic. Rosneft carried out successful testing of 3 wells with 3 more wells being drilled and 1 more well being tested.

    Pilot development of the Payakha, the Ichemminskoye and the Baikalovskoye fields is in progress: production drilling footage amounted to 64 th. meters, while 10 production wells were completed in 9M 2024.

    Drilling and testing of another high-tech well with the horizontal section of 1,000 meters and 7-stage hydraulic fracturing at the Payakha field resulted in a stable oil flow, which confirms the resource potential of the development targets.

    Work is underway at the ‘Vankor – Payakha – Sever Bay’ trunk oil pipeline. Taking into account local climate patters, preparatory works for pipe laying were carried out during the summer period: more than 24 thousand piles were manufactured and prepared for mounting, over 200 km of the pipeline was welded.

    Construction of logistics infrastructure, building of hydraulic structures, shore reinforcement, expansion of coastal and berthing infrastructure is underway.

    Refining

    9M 2024 refining volume in Russia amounted to 62.6 mln tons.

    The Company has been consistently developing domestic technologies and import substitution. In particular, Rosneft provides Company refineries with proprietary catalysts, which are essential for production of high-quality motor fuel. In 9M 2024, Rosneft produced 1,810 tons of catalysts for hydrotreatment of diesel fuel and gasoline fractions, as well as protective layer catalysts. Rosneft subsidiaries also produced over 133 tons of gasoline reforming catalysts and 272 tons of catalysts for hydrogen production, petrochemicals and adsorbents. 1,002 tons of coked catalysts for hydrotreatment of diesel fuel were regenerated.

    Sustainable supply of high-quality motor fuel to Russian consumers is one of Rosneft’s key priorities. In 9M 2024, the Company sold 32.9 mln tons of petroleum products on the domestic market, including 9.9 mln tons of gasoline and 13.5 mln tons of diesel fuel.

    The Company is an active participant of trading activities at the St. Petersburg International Mercantile Exchange (SPIMEX). In 9M 2024, Rosneft sold 7.3 mln tons of gasoline and diesel fuel on the exchange, which is twice the required volume. The Company’s share in the total volume of exchange sales of gasoline and diesel fuel amounted to 37%.

    Financial performance

    Operating performance and the current macroeconomic environment combined with management decisions determined the trend of the Company’s key financial indicators.

    In 9M 2024, the Company’s revenue1 amounted to RUB 7,645 bln, representing an increase of 15.6% year-on-year on the back of higher oil prices. EBITDA reached RUB 2,321 bln, and the EBITDA margin amounted to 30%.

    In 9M 2024, the unit lifting costs amounted to $2.8/boe.

    9M 2024 net income attributable to Rosneft shareholders amounted to RUB 926 bln, which is 13.9% lower year-on-year driven by lower EBITDA, and higher debt financing rates, as well as non-cash factors, including the exchange rate revaluation of foreign currency liabilities and the effect of changes in the income tax rate.

    9M 2024 capital expenditure amounted to RUB 1,052 bln, which was 15.7% higher year-on-year due to the scheduled implementation of the Company’s investment program. At the same time, Rosneft’s free cash flow2 in the reporting period reached RUB 1,075 bln.

    The net debt/EBITDA ratio at the end of September 2024 amounted to 1.2x. The indicator growth was due to payment of final dividends of RUB 307 bln for 2023, as well as depreciation of the national currency.

    1 Includes revenues from sales and equity share in profits of affiliates and joint ventures
    2 Adjustment for prepayments under long-term oil supply contracts, including accrued interest payments thereon, net change in operations of subsidiary banks, and operations with trading securities.

    Department of Information and Advertising
    Rosneft Oil Company
    November 29, 2024

    These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: ROSNEFT OIL COMPANY FULL YEAR 2024 IFRS RESULTS

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    • 2024 HYDROCARBON PRODUCTION  AMOUNTED TO 255.9 MLN TOE
    • 2024 LIQUID HYDROCARBON PRODUCTION AMOUNTED TO 184.0 MLN TONS
    • 2024 GAS PRODUCTION TOTALLED 87.5 BCM
    • 2024 EBITDA AMOUNTED TO RUB 3,029 BLN
    • 2024 NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS AMOUNTED TO RUB 1,084 BLN
    • 2024 FREE CASH FLOW AMOUNTED TO RUB 1,295 BLN
    • 2024 UNIT UPSTREAM COSTS AMOUNTED TO $2.9/BOE
    • THE TOTAL AMOUNT OF PAID TAXES AND OTHER PAYMENTS BY THE COMPANY TO THE CONSOLIDATED BUDGET OF THE RUSSIAN FEDERATION EXCEEDED RUB 6.1 TRLN

    Rosneft Oil Company (hereafter, “Rosneft”, and the “Company”) publishes its results for 12M 2024 prepared in accordance with International Financial Reporting Standards (IFRS).

      12M
    2024    		 12M
    2023    		 % change
      RUB bln (except for %)
    Revenues from sales and equity share in profits of associates and joint ventures 10,139 9,163 10.7%
    EBITDA 3,029 3,005 0.8%
    Net income attributable to Rosneft shareholders 1,084 1,267 (14.4)%
    CAPEX 1,442 1,297 11.2%
    Adjusted free cash flow 1,295 1,427 (9.3)%

     

    Igor Sechin, Chairman of the Management Board and Chief Executive Officer of Rosneft, said:

    “In the reporting year, the Company operated against the backdrop of oil production cap under the OPEC+ agreement, increased taxation, the natural monopolies tariff rises outstripping inflation, incremental anti-terrorist security costs, growing sanctions pressure, and unprecedented interest rates increases.

    Management focused its efforts on revenue and EBITDA growth, while maintaining unit upstream costs at less than $3/boe, which is in line with our strategic objective, as well as on debt burden reduction. At the end of the year the net financial debt/EBITDA ratio amounted to less than 1.2x.

    Rosneft is the country’s largest taxpayer. In 2024, the total amount of paid taxes and other payments made by the Company to the consolidated budget of the Russian Federation exceeded RUB 6,1 trillion1.This is record high both for the Company and for the whole of the Russian market.

    The net income attributable to the Company’s shareholders is lower as compared to the previous year due to the impact of non-cash factors, the main one being the revaluation of tax liabilities due to the income tax rate increase to 25% from 2025. In accordance with IFRS requirements, this resulted in a restatement of deferred tax with a negative income effect of RUB 0.24 trillion. However, efficient execution and improved development parameters of a number of our key projects afforded an opportunity to dramatically reduce the negative effect of these changes.

    The sizable key rate increase exerted additional pressure on the net income. In particular, the Company’s interest expenses on loans and borrowings increased 1.5 times in 2024. I should note that the Bank of Russia maintains a very high real interest rate in the economy: in the last two years, it has been the highest in the world.

    Taking into account our shareholders’ interests and in full compliance with the dividend policy, in February, the Company paid an interim dividend of RUB 36.47 per share. The Company has been paying dividends consecutively since 1999. The dividend base has remained unchanged since the 2011 dividend, which ensures transparency and predictability of the dividend amount. I am pleased to note that in the last year alone the number of our shareholders increased by almost a third and reached 1.5 million people.

    Taking into account the negative macroeconomic environment, the Company forcibly adjusts its strategy to sustain its fundamental value. In 2024, in order to support its stock prices during the periods of sharp decline, the Company continued its Share Buyback Program previously approved by the Board of Directors. At the end of October – beginning of November 2024, when the Russian stock market hit its local lows, Rosneft successfully bought back about 2.6 mln of its shares at an average price of RUB 443.7. The Company used the same mechanism during 2020, when commodity markets suffered a COVID-pandemic related price crisis. At that time, the Company bought back about 0.76% of its shares at an average price of RUB 347.5. The current stake value exceeds the buyback price by more than 1.5х”.

    Operating performance

    Exploration and production

    FY2024, liquid hydrocarbon production amounted to 184.0 mln tons (3,737 th. bpd) on the back of, primarily, the production cap in compliance with the decisions of the Russian Government.

    In 2024, the Company’s gas production amounted to 87.5 bcm (1,455 th. boepd), maintaining Rosneft’s status as the largest independent gas producer in Russia. Greenfield projects in the Yamal-Nenets Autonomous District commissioned in 2022 account for over a third of the Company’s gas production.

    As a result, in 2024, the Company’s hydrocarbon production amounted to 255.9 mln toe (5,192 th. boepd).

    In 2024, production drilling footage exceeded 12 mln meters. Rosneft commissioned over 3 th. new wells, horizontal wells accounting for 72% of that amount.

    In 2024, Rosneft conducted 1.2 th. linear km of 2D seismic and 5.3 th. sq. km of 3D seismic onshore Russia. The Company completed testing of 62 exploratory wells with a success rate of 89%.

    In 2024, Rosneft discovered 7 deposits and 97 new hydrocarbon accumulations to the total of 0.2 bln toe under the AB1C1+B2C2 categories of the Russian reserve classification due to the high efficiency of the Company’s exploration activities. As a result, Rosneft’s hydrocarbon reserves under the Russian classification amounted to 21.5 bln toe (AB1C1+B2C2) at the end of 2024.

    Following an audit under the international PRMS classification (Petroleum Resources Management System), the Company’s 2P hydrocarbon reserves amounted to 11.4 bln toe. The 2P reserves replacement ratio exceeds 100%.

    Vostok Oil Project

    As part of the Vostok Oil project, in 2024, the Company completed 0.7 th. linear km of 2D seismic and 0.6 th. sq. km of 3D seismic. Rosneft carried out successful testing of 4 wells, with 1 well being drilled and 3 more wells being tested.

    In the reporting year, the project scope expanded from 52 to 60 license areas, and the resource base under the Russian classification increased to 7.0 bln tons of crude oil.

    The Company continues pilot development of the Payakhskoye, Ichemminskoye and Baikalovskoye fields: in 2024, production drilling footage amounted to 92 th. meters, while 11 production wells were completed. Successful drilling and testing of wells at the Payakhskoye field resulted in transportation of produced oil to the nearby Suzun field.

    Work is underway at the ‘Vankor – Payakha – Sever Bay’ trunk oil pipeline. As of the end of 2024, over 78,000 piles were installed; 359 km of pipeline were laid, including a 119 km long two-piped section. The Company completed laying and leak testing of the main pipeline crossing the Yenisei River, continues laying the backup pipeline.

    The Company completed most of the work on the construction of two cargo berths, as well as a berth for the port fleet at the Sever Bay Port terminal. Construction of the first oil loading berth is underway, and preparatory work for the second one is carried out. Construction of a crude oil delivery and acceptance point and the Suzun oil pumping station is underway. The Company continues with the construction of logistics infrastructure and hydraulic engineering installations, shore reinforcement, and expansion of onshore and berth infrastructure.

    Refining

    In 2024, Rosneft processed 82.6 mln tons of crude oil in Russia.

    Efforts have been made to maintain a high degree of reliability of refining assets and transition to domestic technologies. In particular, Rosneft provides its refineries with proprietary catalysts, which are essential for the production of high-quality motor fuel. In 2024, Rosneft produced more than 2 th. tons of catalysts for hydrotreatment of diesel fuel and gasoline fractions, as well as protective layer catalysts. Rosneft subsidiaries also produced 138 tons of gasoline reforming catalysts and 390 tons of catalysts for hydrogen production, petrochemicals and adsorbents. 1.6 th. tons of coked catalysts for hydrotreatment of diesel fuel were regenerated.

    Stable supply of high-quality motor fuel to Russian consumers is one of Rosneft’s key priorities. In 2024, the Company sold 43.6 mln tons of petroleum products in the domestic market, including 13.1 mln tons of gasoline and 18.1 mln tons of diesel fuel.

    The Company is an active participant of trading activities at the St. Petersburg International Mercantile Exchange (SPIMEX). In the reporting year, Rosneft sold 10.1 mln tons of gasoline and diesel fuel on the exchange, which is twice the required volume.

    Financial performance

    Operating performance and the current macroeconomic environment combined with management solutions determined the dynamics of the Company’s key financial indicators.

    The Company’s revenue2 for 2024 amounted to RUB 10,139 bln, representing an increase of 10.7% year-on-year on the back of higher Urals prices. EBITDA amounted to RUB 3,029 bln with an EBITDA margin of 29.7%.

    The unit upstream liftng costs in 2024 amounted to $2.9/boe.

    FY2024 net income attributable to Rosneft shareholders amounted to RUB 1,084 bln, which was 14.4% lower year-on-year and driven primarily by higher debt financing rates, as well as non-cash factors, including exchange rate revaluation of foreign currency liabilities and the effect of changes in the income tax rate.

    In 2024, capital expenditures amounted to RUB 1,442 bln, which was 11.2% year-on-year higher due to the scheduled implementation of the investment program at Upstream assets. At the same time, free cash flow3 in the reporting period reached RUB 1,295 bln.

    The net debt / EBITDA ratio at the end of 2024 remained unchanged in comparison with the end of Q3 2024, amounting to 1.2x, despite new negative macroeconomic factors.

    ESG

    Based on 2024 results, Rosneft reaffirmed its leading positions in sustainable development as well as high quality of information disclosure.

    The Company once again became a constituent of the Moscow Exchange – RAEX “ESG Balanced” Index with the best performance among Russian oil and gas companies. Rosneft became the only Russian oil and gas company with an AA ESG-rating assigned by RAEX for its “very high” level of ESG risk and opportunity management, with Rosneft governance rating at the highest AAA level.

    As a result of RAEX research, Rosneft was recognized as a leader of efficient management of water resources, becoming the only Russian oil and gas company among the top-10 rating participants with the highest scores in prudent water consumption, as well as in the quality of corporate policies and programs related to water consumption. The share of recycled and reused water at Rosneft production facilities consistently has exceeded 90% for 10 years.

    Moreover, Rosneft became the only Russian oil and gas company with the highest A+ rating “Leader of Corporate ESG Practices in the Russian Federation” from the Corporate Development Agency “Da-strategy”.

    In the reporting period, the Company proceeded with activities aimed at achieving sustainable development goals under the ‘Rosneft-2030: Reliable Energy and Global Energy Transition’ strategy.

    Rosneft applies advanced technologies and state-of-the-art production methods to create a safe working environment and minimize the risk of occupational injuries and occupational illnesses. In 2024, the Lost Workday Injury Severity (LWIS) went down by 23%.

    In 2024, there were no gas, oil and water shows (release of oil, gas or water to the surface) during well drilling operations at Rosneft facilities. The Company continued with pipeline replacement as part of its efforts to minimize oil and petroleum product spills.

    In 2024, Rosneft reduced the area of contaminated land by 9%, and the volume of oily waste – by 11% under the corporate program for the elimination of environmental legacy. In particular, the Company completed execution of a large-scale remediation program of legacy lands harmed during the Soviet years at the Samotlor oil field. Biological soil productivity was restored at the area of more than 2.2 th. hectares.

    1 Excluding the reimbursement of the excise duty on crude oil, which represents compensation for oil companies’ losses from motor fuels domestic price controls and refinery modernization costs.
    2 Includes sales revenue and income from associated organizations and joint ventures.
    3 Adjusted for prepayments under long-term oil supply contracts, including accrued interest payments thereon, net change in operations of subsidiary banks, and operations with trading securities.

    Department of Information and Advertising
    Rosneft Oil Company
     March 20, 2025

    These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: ROSNEFT OIL COMPANY FIRST QUARTER 2025 IFRS RESULTS

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    ROSNEFT OIL COMPANY FIRST QUARTER 2025 IFRS RESULTS

    • HYDROCARBON PRODUCTION AMOUNTED TO 61.2 MLN TOE
    • LIQUID HYDROCARBON PRODUCTION AMOUNTED TO 44.6 MLN TONS
    • GAS PRODUCTION TOTALLED 20.2 BCM
    • EBITDA AMOUNTED TO RUB 598 BLN
    • NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS INCREASED TO RUB 170 BLN
    • UPSTREAM LIFTING COSTS AMOUNTED TO $3/BOE

    Rosneft Oil Company (hereinafter – Rosneft, the Company) publishes its results for Q1 2025, prepared in accordance with the International Financial Reporting Standards (IFRS).

      Q1
    2025    		 Q4
    2024    		 % change
    RUB bln
    Revenues from sales and equity share in profits of associates and joint ventures 2,283 2,494 (8.5)%
    EBITDA 598 708 (15.5)%
    Net income attributable to Rosneft shareholders 170 158 7.6%
    Capex 382 390 (2.1)%
    Costs and expenditures 1,927 2,038 (5.4)%

    Igor Sechin, Chairman of the Management Board and Chief Executive Officer of Rosneft, noted:

    “In the reporting period, the Company operated in the context of continuous deterioration of the macroeconomic environment that included lower prices and wider discounts for Russia’s Urals crude oil, new sanction restrictions, as well as a stronger ruble.

    The Bank of Russia independently sets the exchange rate of the national currency, considering, primarily, the realities of the financial system. The use of such exchange rate thus does not take into account the economic conditions of the Company’s operations leading to incremental costs associated with the calculation of the tax base, currency conversion, understating the value of oil in rubles and so on.

    In the first quarter of 2025, the Company’s EBITDA was under the additional pressure from rising transportation expenses due to the tariff indexation by the natural monopolies. For example, Transneft oil transportation tariffs have gone up by 9.9% since January 2025, while petroleum product transportation tariffs and freight railroad transportation expenses have increased by 13.8% since the end of 2024.

    Most natural monopolies tariffs, including even the tariffs imposed by the Russian Post, rise outstripping inflation: since early 2024, the price of sending an ordinary postal card has increased by 20%. Electricity tariffs were raised by 9.1% from July 2024 and are scheduled to be indexed by another 11.6% in July 2025.

    Moreover, in accordance with the updated socio-economic development forecast, in 2025, indexation of regulated gas prices, electricity tariffs, and tariffs of grid companies is planned to exceed the forecast inflation rate, accelerating cost inflation.

    In these circumstances, cost control remains our constant priority. In the first quarter of 2025, upstream lifting costs amounted to $3/boe in line with our strategic goal.

    Net income increased quarter-on-quarter but declined year-on-year against the growing key interest rate. For instance, interest expenses on loans and borrowings went up 1.8 times year-on-year.

    Shareholders’ interests remain a top priority for Rosneft. On April 25, the Board of Directors recommended that the General Shareholders Meeting make a resolution on paying a final dividend of RUB 14.68 per share. In this way, the total amount of dividends attributable to shareholders and based on last year results will amount to RUB 51.15 per share”.

    Operating Performance

    Exploration and Production

    In Q1 2025, liquid hydrocarbon production amounted to 44.6 mln tons (3,681 th. bpd) on the back of challenging weather conditions in Central Russia, and oil production cap in compliance with the decisions of the Russian Government.

    In Q1 2025, the Company’s gas production amounted to 20.2 bcm (1,366 th. boe/day). Greenfield projects in the Yamal-Nenets Autonomous District commissioned in 2022 account for around a third of the Company’s gas production.

    As a result, in Q1 2025, the Company’s hydrocarbon production amounted to 61.2 mln toe (5,047 th. boe/day).

    In Q1 2025, production drilling footage exceeded 2.8 mln meters. Rosneft commissioned over 0.6 th. new wells with horizontal wells accounting for 76% of that amount.

    Vostok Oil Project

    The Company continues pilot development of the Payakhskoye, Ichemminskoye and Baikalovskoye fields: in Q1 2025, production drilling footage exceeded 30,000 meters, while 4 production wells were completed. The Company launched pilot production at the Payakhskoye and Ichemminskoye fields with produced oil transported by trucks.

    Work is underway at the Vankor – Payakha – Sever Bay trunk oil pipeline. As of the end of Q1 2025, 104,000 piles were installed, about 450 km of the pipeline were laid, including a 171 km long two-piped section. Most of the work on laying the backup pipeline crossing the Yenisei River was completed.

    The Company completed most of the work on the construction of two cargo berths and a berth for the port fleet at the Sever Bay Port terminal. Construction of the first oil loading berth is in progress as well as preparatory work for the second berth. Construction of a crude delivery and acceptance point at Sever Bay Port terminal and the Suzun oil pumping station is underway. The Company continues the construction of logistics infrastructure and hydraulic engineering installations, shore reinforcement, and expansion of onshore and berth infrastructure.

    Refining

    In Q1 2025, the refining volumes amounted to 19.5 mln tons, demonstrating a quarter-on-quarter decrease. The refining volume trend is attributable to optimization of refinery utilization in view of the current pricing environment and demand, and the need for maintenance and repair works. The refining depth increased to 75.9%, while the light product yields reached 59.9%.

    Sustainable supply of high-quality motor fuel to Russian consumers is one of Rosneft key priorities. In Q1 2025, the Company sold 9.8 mln tons of petroleum products on the domestic market, including 3.2 mln tons of gasoline and 3.8 mln tons of diesel fuel. 

    The Company is an active trader at the St. Petersburg International Mercantile Exchange (SPIMEX). In the reporting period, Rosneft sold 2.2 mln tons of gasoline and diesel fuel on the exchange that is 1.7 times higher than the required volume.

    Financial Performance

    Operating performance and the current macroeconomic environment combined with management solutions determined the dynamics of the Company’s key financial indicators.

    In Q1 2025, the Company’s revenue1 amounted to RUB 2,283 bln, down 8.5% quarter-on-quarter against lower Urals prices in rubles. At the same time, the rate of costs savings and expense reductions lagged behind the revenue dynamics, with one of the reasons being indexation of tariffs imposed by the natural monopolies. As a result, Q1 2025 EBITDA decreased to RUB 598 bln, with an EBITDA margin of 26%.

    In Q1 2025, unit upstream lifting costs amounted to $3/boe.

    In Q1 2025, net income attributable to Rosneft shareholders grew quarter-on-quarter, reaching RUB 170 bln.

    In Q1 2025, capital expenditure amounted to RUB 382 bln due to the scheduled implementation of the investment program mainly at Upstream assets.

    As of the end of Q1 2025, the net debt / EBITDA ratio amounted to 1.36x that is significantly below the minimum covenant under the loan agreements.

    ESG

    In the reporting period, the Company proceeded with activities aimed at achieving sustainable development goals under the ‘Rosneft-2030’ strategy.

    Rosneft applies advanced technologies and state-of-the-art production methods to create a safe working environment and minimize the risk of occupational injuries and occupational illnesses. In Q1 2025, the Lost Workday Injury Severity (LWIS) went down by 68%.

    Incident prevention measures resulted in a lower number of process safety events at the Company subsidiaries in Q1 2025. In particular, the frequency of incidents related to loss of containment of equipment with severe consequences of Tier 1 (PSER-1) reduced by 13% against Q1 2024, while the frequency of Tier 2 incidents (PSER-2) decreased by 19%.

    In the reporting period, no oil, gas or water shows (release of oil, gas or water to the surface) were registered during well drilling operations at the Company sites. The Company continued with pipeline replacement as part of its efforts to minimize oil and petroleum product spills.

    The Company leadership in sustainable development received independent external recognition. In April 2025, Rosneft became one of the leaders in the ESG ranking  for the quality of personnel management according to RAEX, Russia’s largest non-credit agency.

    1 Includes sales revenue and income from associates and joint ventures.

    Department of Information and Advertising
     Rosneft Oil Company
     May 30, 2025

    These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and the Ministry of Finance of the Russian Federation Enter into a Cooperation Agreement

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft and the Ministry of Finance of the Russian Federation signed an Agreement on Cooperation in Financial Sector at the XXVIII St. Petersburg International Economic Forum.

    The document was signed by Rosneft CEO Igor Sechin and the Minster of Finance Anton Siluanov.

    The parties intend to establish integrated cooperation in the financial sector in order to facilitate the development and implementation of actions to reduce a negative impact on the Russian Federation and Russian legal entities.

    The Agreement provides for assistance in arranging settlements with friendly countries in national currencies, the development of the medium-term and long-term interbank lending in Russian rubles and currencies of friendly countries, and the development of international communication platforms in the Russian Federation and abroad in order to facilitate the discussion of cooperation in the financial sector.

    Additionally, the parties plan to develop cooperation in the area of expert and analytical activity.  

    Information and Advertising Department
    Rosneft Oil Company
    June 20, 2025

    These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: China Moves Towards Full Energy Independence to Become Major Energy Exporter – Rosneft CEO

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    China is moving towards full energy independence and will turn from an importer to a major energy exporter in the foreseeable future, Rosneft CEO Igor Sechin said in his report at the Energy Panel of the XXVIII St. Petersburg International Economic Forum.

    He noted that China is a unique example of a competent approach to energy system development – the country now accounts for a third of the world’s investments in the energy sector.

    “In my opinion, China, which has already ensured its energy security, is confidently moving towards complete energy independence, forming a stable energy balance based on its own resources. There is no doubt, taking into account the persistence and professionalism of the Chinese comrades, that in the foreseeable future they will achieve the desired result, which will turn China from an importer of energy resources into a major energy exporter,” said the CEO of Rosneft.

    According to Igor Sechin, in recent years it is in China that the largest amount of new renewable energy capacity has been commissioned and more than 70% of the world’s capacity for the production of equipment for the “green” economy is located. This applies to the entire value chain: from critical minerals to the production of high-tech equipment that has no analogues in Western countries.

    Rosneft’s CEO also noted China’s efforts in increasing investments in related infrastructure: investments in power grids increased by 15% last year and may double this year. “investments in rechargeable batteries have grown almost fivefold to $11 billion. As of today, the total capacity of such batteries in China exceeds 35 GW , which amounts to two-thirds of the entire global capacity,” Igor Sechin said.

    At the same time, China has never given up fossil fuels. Over the last five years, the country has outpaced the rest of the world in terms of commissioning new coal-fired generation capacity. “Today, coal accounts for almost 60% of China’s electricity generation. Last year alone, China issued permits for about 100 gigawatts of new coal-fired power generation, the highest in a decade, which should strengthen coal’s role in the grid,” emphasized the CEO of Rosneft.

    China’s efforts to strengthen its own energy security have drawn a barrage of criticism, often disguised as concern for the environment. “As the outstanding Chinese strategist and thinker Sun Tzu aptly noted two and a half thousand years ago: ‘The more brilliant your plan, the fewer people will agree with it,’” the Rosneft CEO added. 

    According to Sechin, China’s coordinated approach to energy security is particularly clear from the example of electric cars. The growth of their sales led to a significant slowdown in demand for motor fuel last year, and “the continuation of this trend may have a significant reversing effect on the balance of the oil market”.

    An important part of China’s strategy to reduce its dependence on energy imports is the processing of coal into synthetic fuels and chemical products. “Chinese companies are investing billions of dollars in the development of this industry. According to experts, today in China 40 million tons of coal is used to produce synthetic fuels and more than 260 mln tons for ammonia and methanol production,” Igor Sechin concluded.

    Department of Information and Advertising
    Rosneft Oil Company
    June 21, 2025

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft Finalizes Development of GTL Technology, Plans Introduction in Taimyr Project – Sechin

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Igor Sechin, Chief Executive Officer of Rosneft, speaking at the Energy Panel at the XXVIII St. Petersburg International Economic Forum, said that the Company has completed the development of proprietary technologies and catalysts throughout the entire chain of the GTL* process using Fischer-Tropsch synthesis.

    “I would also like to inform that Rosneft has completed the development of proprietary technologies and catalysts throughout the entire chain of the GTL process using Fischer-Tropsch synthesis. All stages of the technological process are covered by respective patents. We plan to introduce this technology in Taimyr,” Igor Sechin said.

    The CEO of the Company demonstrated to the participants of the energy panel a flask with the obtained fuel, noting that it is synthetic oil consisting of the purest hydrocarbon molecules, with zero sulfur content. “To anyone who is interested, we are ready to provide samples,” he added, addressing the participants and audience of the Energy Panel.

    Speaking about the importance of such fuel, Igor Sechin cited the example of China, where an important part of the strategy to reduce dependence on energy imports is the processing of coal into synthetic fuels and chemical products. “Chinese companies are investing billions of dollars in the development of this industry. According to experts, today in China 40 million tons of coal is used to produce synthetic fuels and more than 260 mln tons for ammonia and methanol production,” Igor Sechin emphasized.

    * GTL or Gas-to-Liquid is a technology for converting natural gas into high quality liquid hydrocarbons such as diesel fuel, gasoline, and others.

    Department of Information and Advertising
    Rosneft Oil Company
    June 21, 2025

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft Oil Company Holds Annual General Meeting of Shareholders

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft held its Annual General Meeting of Shareholders, where it has been decided to approve the payment of dividends for 2023 in the amount of 29.01 roubles per share. 

    July 9, 2024 was set as the dividend record date. The dividends will be paid to nominee shareholders and trustees not later than July 23, 2024, and to other shareholders registered in the shareholder register not later than August 13, 2024.

    The shareholders have elected a new Board of Directors consisting of 11 members:

    • Andrey I. Akimov – Chairman of the Management Board, Gazprombank (Joint-Stock Company);
    • Pedro A. Aquino, Jr. – CEO of OIL & PETROLEUM HOLDINGS INTERNATIONAL RESOURCES LIMITED, Independent Director (the Republic of the Philippines);
    • Faisal Alsuwaidi – Representative of Qatar Investments Authority (the State of Qatar);
    • Hamad Rashid Al-Mohannadi – Representative of Qatar Investments Authority (the State of Qatar);
    • Mohammed Bin Saleh Al-Sada – Chairman of the Board of Trustees of Doha University  for Science and Technology, member of the Board of Directors of Nesma Infrastructure & Technology, member of the Advisory Committee of the GCC Supreme Council, Independent Director (the State of Qatar);
    • Viktor G. Martynov – Rector of Gubkin Russian State University of Oil and Gas (National Research University), Independent Director;
    • Alexander D. Nekipelov –  Director of the Moscow School of Economics at the Lomonosov Moscow State University, Independent Director;
    • Alexander V. Novak – Deputy Prime Minister of the Russian Federation;
    • Maxim S. Oreshkin – Deputy Head of the RF President Administration;
    • Govind Kottieth Satish – Managing Director of VALUE PROLIFIC CONSULTING SERVICES PRIVATE LIMITED, Independent Director (India);
    • Igor I. Sechin – Chief Executive Officer, Chairman of the Management Board of Rosneft Oil Company;

    The Meeting of Shareholders has also approved the Annual Report and Financial Statements, and decided to elect an Audit Commission consisting of five members.

    Information and Advertising Department
    Rosneft
    June 28, 2024

    These materials contain statements regarding future events and expectations that constitute forward-looking statements. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

    Keywords: Corporate Governance 2024

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: ROSNEFT OIL COMPANY H1 2024 IFRS RESULTS

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    • H1 2024 HYDROCARBON PRODUCTION AMOUNTED TO 131.3 MLN TOE
    • H1 2024 LIQUID HYDROCARBON PRODUCTION EQUALED 92.8 MLN TONS
    • H1 2024 GAS PRODUCTION TOTALLED 46.8 BCM
    • H1 2024 EBITDA AMOUNTED TO RUB 1,650 BLN
    • H1 2024 NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS AMOUNTED TO RUB 773 BLN
    • H1 2024 FREE CASH FLOW AMOUNTED TO RUB 700 BLN
    • NET DEBT/EBITDA AT THE END OF H1 2024 WAS LESS THAN 1X
    • H1 2024 UNIT LIFTING COSTS AMOUNTED TO $2.7/BOE

    Rosneft Oil Company (hereinafter – Rosneft, the Company) announces its results for H1 2024, prepared in accordance with the International Financial Reporting Standards (IFRS).

      H1
    2024    		 H1
    2023    		 % change
      RUB bln (except for %)
    Revenues from sales and equity share in profits of affiliates and joint ventures 5,174 3,880* 33.4%
    EBITDA 1,650 1,401 17.8%
    Net income, attributable to Rosneft shareholders 773 609** 26.9%
    CAPEX 696 599 16.2%
    Adjusted free cash flow 700 434 61.3%

    * Adjusted for royalty effect in the Sakhalin-1 project.
    ** Revised due to completion of the 2022–2023 acquisition price allocation in 2023.

    Operating performance

    Exploration and production

    H1 2024 liquid hydrocarbons production amounted to 92.8 mln tons (3,796 th. bpd). The indicator performance is primarily driven by the production cap in compliance with the decisions of the Russian Government.

    H1 2024 gas production amounted to 46.8 bcm (1,566 th. boepd). Greenfield projects in the Yamal-Nenets Autonomous District commissioned in 2022 account for over a third of the Company’s gas production.

    As a result, the Company’s H1 2024 hydrocarbon production amounted to 131.3 mln toe (5,362 th. boepd).

    H1 2024 production drilling footage exceeded 5.9 mln meters. Rosneft commissioned over 1.4 th. new wells, 71% of which were horizontal.

    In H1 2024, Rosneft conducted 1.2 th. sq. km of 2D seismics and 4.7 th. sq. km of 3D seismics onshore Russia. The Company completed testing of 15 exploratory wells with a success rate of 87%.

    Vostok Oil Project

    As part of the flagship Vostok Oil project, in H1 2024 the Company completed 0.7 th. linear km of 2D seismics and 0.6 th. sq. km of 3D seismics. Rosneft carried out successful testing of one well, completed drilling of two wells with two more wells being tested.

    Pilot development of the Payakha, the Ichemminskoye and the Baikalovskoye fields is in progress: production drilling footage amounted to 42 th. meters, six production wells were completed in H1 2024.

    Work is underway at the ‘Vankor – Payakha – Sever Bay’ trunk oil pipeline. As of the end of H1 2024, over 65 th. piles had been mounted; over 280 km of pipeline had been welded, including 78 km long two-piped section. The Company completed the main pipeline crossing across the Yenisei River is finalizing the trench backfilling, and has started bottom dredging for laying a backup pipeline.

    The Company has completed most of activities on two cargo berths and one berth for the port fleet at the Sever Bay Port terminal, continues construction of an oil loading berth, and is working on construction of a crude oil delivery and acceptance point. Construction of logistics infrastructure, building of hydraulic structures, shore reinforcement, expansion of coastal and berthing infrastructure is underway.

    The Company completed winter-spring cargo delivery, and over 830 th. tons of property and equipment were delivered to the project’s production facilities via the Northern sea route and winter roads. Compared to the previous period, the volume of transported cargo increased by 32%.

    Refining

    H1 2024 refining volume in Russia amounted to 40.9 mln tons.

    The Company has been consistently developing domestic technologies and import substitution. In particular, Rosneft provides Company refineries with proprietary catalysts, which are essential for production of high-quality motor fuel. In H1 2024, Rosneft produced 1,130 tons of catalysts for hydrotreatment of diesel fuel and gasoline fractions, as well as protective layer catalysts. Rosneft subsidiaries also produced over 100 tons of gasoline reforming catalysts and 185 tons of catalysts for hydrogen production, petrochemicals and adsorbents. 630 tons of coked catalysts for hydrotreatment of diesel fuel were regenerated.

    Sustainable supply of high-quality motor fuel to Russian consumers is one of Rosneft’s key priorities. In H1 2024, the Company sold 21.6 mln tons of petroleum products on the domestic market, including 6.4 mln tons of gasoline and 8.8 mln tons of diesel fuel.

    The Company is an active participant of trading activities at the St. Petersburg International Mercantile Exchange (SPIMEX). In H1 2024, Rosneft sold 5.0 mln tons of gasoline and diesel fuel on the exchange, which is twice the required volume. The Company’s share in the total volume of exchange sales of gasoline and diesel fuel amounted to 38%.

    Financial performance

    Operating performance and the current macroeconomic environment combined with management decisions determined the trend of the Company’s key financial indicators.

    In H1 2024, the Company’s revenue1 amounted to RUB 5,174 bln, representing an increase of 33.4% year-on-year. EBITDA reached RUB 1,650 bln, which is 17.8% higher year-on-year. EBITDA margin amounted to 32%. At the end of H1 2024, the Net Debt/EBITDA ratio was 0.96x.

    H1 2024 unit lifting costs amounted to USD 2.7/boe.

    H1 2024 net income attributable to Rosneft shareholders increased to RUB 773 bln, a growth of 26.9%, which was mainly driven by the EBITDA growth.

    H1 2024 capital expenditure amounted to RUB 696 bln, which was 16.2% higher year-on-year and was due to the scheduled implementation of activities in the Upstream segment. At the same time, Rosneft’s free cash flow2 in the reporting period reached RUB 700 bln, which is 61.3% higher than in H1 2023.

    The Company is taking measures to reduce its ruble-denominated debt burden against the backdrop of high interest rates.

    In addition to the increase in interest rates, the outstripping growth of tariffs of natural monopolies negatively affects the Company’s performance. In particular, since 2020 increase in tariffs for cargo transportation by rail has exceeded the inflation rate by 17%.

    ESG

    In the reporting period, the Company continued to implement measures to achieve sustainable development goals under the ‘Rosneft-2030: Reliable Energy and Global Energy Transition’ strategy.

    Rosneft applies advanced technologies and state-of-the-art production methods to create a safe working environment and minimize the risk of occupational injuries and occupational illness. In H1 2024, while the overall LTIF (Lost Time Injury Frequency Rate) remained unchanged, the Lost Work Injury Frequency Rate (LWIS) dropped by 34%.

    In H1 2024, there were no gas, oil and water shows (release of oil, gas or water to the surface) during drilling operations at Company facilities. As part of efforts to minimize oil and petroleum product spills, measures were taken to replace field pipelines.

    In H1 2024, the Company processed more than 30 th. tons of legacy oily waste under the program on liquidation of environmental legacy.

    Active implementation of circular economy principles is one of the Company’s strategic development areas. In April 2024, Rosneft headed the waste management rating of RAEX, Russia’s largest non-credit rating agency, of 160 Russian companies. The Company’s leadership was acknowledged on the basis of the quality of corporate waste management policies and programs, gross and unit indicators of waste generation, as well as the share of waste reuse.

    Igor Sechin, Chairman of the Management Board and Chief Executive Officer of Rosneft, said:

    “Despite external pressure and challenges including production restrictions under the OPEC+ agreement, outstripping growth of tariffs of natural monopolies, increasing tax burden and interest rates, the Company continues to achieve strong financial results thanks to its high level of operational efficiency.

    In the first half of 2024, Rosneft’s key financial indicators – revenue, EBITDA, net income, cash flow – demonstrated stability. Unit lifting costs remained at a low level of USD 2.7/boe. As the country’s largest taxpayer, Rosneft paid RUB 2.8 trln in taxes in the first half of 2024.

    The ongoing growth of the tax burden has a negative impact on the oil industry. Its high level is confirmed by the calculations based on the data of Russia’s Federal Tax Service and Ministry of Finance – for 2019-2023, the tax burden in the oil industry amounted to 75%. By comparison, the burden in other industries for the same period is much lower: in the banking sector – 27%, in mining and metallurgy – 35%, in mining of diamonds and precious metals – 31%, in the gas industry – 62%.

    Such a level of tax burden undermines the very economic model of the industry and violates the rights of investors, including individual shareholders, of which Rosneft has over 1.3 mln people.

    In August 2024, for the benefit of shareholders and in full compliance with the dividend policy, the Company completed payment of final dividends approved by the Annual general shareholder meeting totaling over RUB 307 bln (29.01 per share).The total amount of dividends for 2023 is RUB 59.78 rubles per share or RUB 634 bln, which is a record high in the Company’s history”.

    1 Includes revenues from sales and equity share in profits of affiliates and joint ventures.
    2 Adjustment for prepayments under long-term oil supply contracts, including accrued interest payments thereon, net change in operations of subsidiary banks, and operations with trading securities.

    Department of Information and Advertising
    Rosneft Oil Company
    August 29, 2024

    These materials contain statements regarding future events and expectations that are forward-looking estimates. Any statement in these materials that is not historical information is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by these forward-looking statements. We assume no obligation to adjust the data contained herein to reflect actual results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Sechin Calls Synthesis of Conventional and Alternative Sources New Landscape of Energy Sector

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Synthesis of conventional and alternative energy sources is currently the optimal solution for the development of the global energy sector, said Igor Sechin, Chief Executive Officer of Rosneft, at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    According to the CEO, the search for new energy sources never stops, and today a number of promising technologies are being actively developed. However, their full-fledged implementation is still far away, as modern technological solutions in this area are too expensive and inferior to traditional energy sources in a number of parameters.

    “For many years, great hopes have been placed on the use of hydrogen. However, low-carbon hydrogen still accounts for less than 1% of all production volumes. According to the Deloitte consulting company, the introduction of “green” hydrogen fuel will cost almost 10 trillion dollars by 2050,” Igor Sechin noted, adding that the cost of green hydrogen varies from 200 to 400 dollars per barrel of oil equivalent, which, under current conditions, makes it uncompetitive with oil and gas.

    He also emphasized that the use of cheaper methods of hydrogen production does not allow to reduce the carbon footprint, as the production of so-called “gray” hydrogen exceeds the emissions arising from the full cycle of production and use of gasoline.

    The introduction of space solar energy is also costly, Igor Sechin emphasized. The CEO noted that the cost of a satellite capable of converting solar energy into electricity in space exceeds 30 billion euros, and there is still no technology that would allow to transmit huge amounts of energy to Earth from space.

    Rosneft’s CEO also drew attention to the search for alternatives in energy storage. “Alternative types of batteries are emerging that already offer certain advantages but are not yet ready for widespread adoption. For example, sodium-ion batteries reduce charging time by 75% and perform better in low-temperature conditions, but they lag significantly behind existing lithium-ion counterparts in terms of energy density and lifespan,” Igor Sechin said.

    “As we can see, full-scale implementation of all these technologies is still a long way off. Therefore, today the optimal solution is a synthesis of conventional and alternative energy sources,” summarized the CEO of Rosneft.

    Department of Information and Advertising
    Rosneft Oil Company
    June 21, 2025

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Igor Sechin Talks About Renaissance of Nuclear Power Sector

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    The importance of nuclear power, which is a natural complement to fossil fuels, is growing, said Igor Sechin, Chief Executive Officer of Rosneft, at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    “However, against the backdrop of growing consumption, all types of generation, including nuclear, are experiencing a rebirth. This is clearly illustrated by the price of uranium fuel, which has more than tripled over the past seven years,” Igor Sechin noted.

    He recalled that back in the 1930s the idea of thermonuclear fusion was formulated, and many famous scientists, including Nobel laureates Hans Bethe, Peter Kapitsa, Igor Tamm and later Andrei Sakharov, sought to reproduce and control this process. In theory, fusion can generate almost four million times more energy than burning oil or coal, Igor Sechin said. However, in order to sustain a fusion reaction and sustainably generate energy, it is still necessary to improve methods of plasma confinement, ensure its stability, and increase efficiency.

    The CEO of Rosneft noted that a few years ago the nuclear power industry was in a deep crisis due to the decline in activity in the industry and such large companies as Westinghouse and Areva had to go through restructuring and ownership changes. However, the situation then began to change. “Over the past five years, global annual investments in nuclear energy have increased by 50%, reaching 70 billion dollars last year. China has become one of the leaders in nuclear power today. Over the past ten years, the installed capacity of nuclear generation in this country has increased fivefold and approached 60 GW. China plans to complete the construction of 32 more reactors in the coming years,” he said.

    At the same time, Sechin said it is important that China relies on the latest technological achievements of the leading nuclear powers – Russia, the United States and France – to develop its nuclear industry.

    He noted that Russia has many years of experience in building nuclear power plants. The cost of the most modern Russian VVER-1200 reactor is much lower than the American AP-1000. Today such reactors are already operating in Russia and are planned to be commissioned in friendly countries.

    At the same time, Sechin noted, the resource base is of particular importance. Today, just seven countries, including the Russian Federation, control more than 90% of the world’s uranium fuel production and about 70% of the world’s uranium reserves.

    “Today, Russia is the only country in the world that has expertise in the entire technological chain of the nuclear fuel cycle, from uranium mining to nuclear fuel disposal. In total, 80 nuclear reactors have been built in the world using Russian technologies,” he said

    Russia has also commissioned the world’s only floating nuclear power plant of small capacity. Currently, four more nuclear power plants are under construction.

    Also, a sodium-cooled nuclear reactor belonging to the category of fast neutron reactors, the BN-800, has been successfully operating in our country for ten years, another latest-generation fast neutron reactor, the BN-1200, is under construction.

    “Reactors of this type take into account the most advanced technical solutions, including the enlargement of fuel elements, the use of uranium-plutonium mixed fuel, as well as well as new structural steels with increased radiation resistance, which provide deeper fuel burnup and higher efficiency.  In particular, the efficiency of electricity generation increases by 20-25%, even without taking into account the significantly higher efficiency of fuel use,” said the CEO of Rosneft

    Investments in the nuclear sector are expected to continue growing According to the IEA forecast, by 2050 the global installed nuclear generation capacity will grow by nearly 60% to reach 650 GW. “I believe this estimate is understated. Just a few weeks ago, the US President set a goal to quadruple the country’s nuclear generation capacity to 400 GW,” Sechin noted.

    The CEO of Rosneft expects further growth of investments in the nuclear sector: new technologies, such as small modular reactors, are now attracting increased attention of investors. While such reactors are more mobile, their implementation also requires investments in the development of power grids. In addition, special attention should be paid to their safety and security against terrorist threats.

    “Rolls-Royce recently won a tender for the construction of such reactors in the UK. Experts note that these reactors have a number of features. One of them is described in Ecclesiastes: “What is crooked cannot be straightened; what is lacking cannot be counted.” None of these reactors have been put into operation yet,” Sechin explained.

    The proposed smaller reactors will require no less effort and cost, including those related to fuel utilization and safety, than existing larger reactors.

    “Finally, nuclear energy is, in any case, a dual-use technology. The issue of non-proliferation of nuclear weapons must be given the utmost attention, as it is precisely because of this that the Middle East conflict is currently intensifying. It is crucial to consider whether we want further expansion of the nuclear club,” Igor Sechin concluded.

    Department of Information and Advertising
    Rosneft Oil Company
    June 21, 2025

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and ITMO University Sign a Technological Cooperation Agreement

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    During the XXVII St. Petersburg International Economic Forum, Rosneft and the St. Petersburg National Research University of Information Technologies, Mechanics and Optics (ITMO University) signed an agreement on joint development of knowledge-intensive digital projects.

    The document envisages the development of competitive technologies, and joint research studies in the field of infochemistry, digital modeling, chemical informatics*, electrochemistry and robotics for the needs of the oil and gas industry.

    The Agreement also provides for involvement of students, postgraduate students, doctoral candidates and the academic staff of ITMO University into Rosneft’s scientific research.

    The development of technological potential is one of the key elements of Rosneft’s 2030 Strategy. The Company prioritizes innovation activities defining technological leadership as a key factor of competitiveness in the oil market.

    Reference:

    Rosneft is a leader in development and implementation of innovative technologies for sustainable development of the oil and gas industry, and is the only Russian oil and gas company that has a line of in-house import-substituting software products.

    ITMO University is a recognized educational leader in the area of artificial intelligence and information technologies in Russia.

    *- application of IT methods to solve chemical problems

    Rosneft
    Information and Advertising Department
    June 7, 2024

    These materials contain forward-looking statements regarding future events and expectations. All statements contained in these materials that do not relate to matters of historical fact constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any expected results, performance or achievements expressed or implied by such forward-looking statements. We assume no obligation to update the data contained herein to reflect actual performance or results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Keywords: Social News 2024

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and CUPET Expand Cooperation in the Area of Education

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft and CUPET, the state-owned oil company based in the Republic of Cuba, signed an Education and Manpower Training Cooperation Agreement at the XXVII St. Petersburg International Economic Forum.

    Since 2013, Rosneft and CUPET have been enjoying successful cooperation, providing education to citizens of the Republic of Cuba at Russian universities.

    The Agreement provides for enhanced cooperation, granting access for CUPET employees to the oil and gas university programs and advanced training courses at the higher educational institutions of the Russian Federation. In addition, internship programs at Rosneft Group Subsidiaries will be arranged for CUPET employees.

    The signed document will contribute to successful cooperation between Rosneft and CUPET in educational projects.

    Reference:

    Since 2014, 39 students from Cuba have completed oil and gas master’s degree programs, and 20 students are expected to graduate in June 2024.

    In 2023, 53 CUPET employees took part in the advanced training programs in Cuba with Russian university professors and underwent internships at Rosneft Group Subsidiaries in Russia.

    Information & Advertising Department
    Rosneft
     June 7, 2024

    These materials contain forward-looking statements regarding future events and expectations. All statements contained in these materials that do not relate to matters of historical fact constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any expected results, performance or achievements expressed or implied by such forward-looking statements. We assume no obligation to update the data contained herein to reflect actual performance or results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Keywords: Social News 2024

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and 1C Promote IT Cooperation

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft and 1C signed a Strategic Cooperation Agreement in the IT area at the XXVII St. Petersburg International Economic Forum (SPIEF).

    The document defines the main areas of cooperation in development, implementation and promotion of software solutions based on the 1C:Enterprise 8 platform. These include business applications, as well as operational, metrological, and managerial products.

    Over the years, Rosneft has been continuously developing and scaling up 1C-based information systems. In particular, the company has automated the processes for retail sales of petroleum products, HR management, health and safety, financial and business activities.

    The signed Agreement will serve as an additional driver for enhanced partnership relations between Rosneft and 1C, and facilitate development of the efficient and effective process solutions to support digitalization of all segments of the Company operations.

    Information & Advertising Department
    Rosneft
     June 7, 2024

    These materials contain forward-looking statements regarding future events and expectations. All statements contained in these materials that do not relate to matters of historical fact constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any expected results, performance or achievements expressed or implied by such forward-looking statements. We assume no obligation to update the data contained herein to reflect actual performance or results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and Krasnoyarsk Territory to Develop Cooperation in the sphere of Domestic Tourism

    Source: Rosneft – An important disclaimer is at the bottom of this article.

    At the XXVII St. Petersburg International Economic Forum, Rosneft and the Tourism Agency of the Krasnoyarsk Territory signed a Memorandum of Cooperation to promote domestic tourism.

    The document provides for cooperation to boost the demand for domestic automobile tourism, promote the tourist potential of the region, including improvement of motorway service and Rosneft retail network infrastructure.

    The parties plan to undertake a number of actions aimed at improving the comfort of automobile travelers, including motorway service at the Rosneft filling stations.

    Development of the motorway service facilities and improvement of the customer services provided at Rosneft filling stations is one of the Company’s priorities. The Company retail network is not only the largest in Russia in terms of geographical coverage and number of filling stations (around 3,000 stations), but also one of the leaders in terms of fuel brand recognition and quality.

    Rosneft undertakes a number of measures aimed at creating comfortable conditions for automobile travelers. Earlier, the Company, together with a number of regional authorities, has presented joint tourist routes running through the Rosneft filling stations in the Republic of Karelia, as well as the Tula, Arkhangelsk, and Ulyanovsk Regions, and the key routes between Moscow and Krasnaya Polyana, and between the two capitals.

    In addition, the Company has previously signed memoranda of cooperation to promote domestic tourism with the Moscow City Tourism Committee, the government of the Samara Region, the Ministry of culture of the Arkhangelsk Oblast, the Altai Territory Department for Tourism and Resort Development, Tourism Agencies of the Ulyanovsk Region and the Republic of Udmurtia, and the Republic of Bashkortostan.

    In 2023, Rosneft launched a special information and service platform “Russian Horizons: Come With Us!”. The special project allows car tourists to choose and plan routes to places of interest using the infrastructure of Rosneft’s network of motorway services and filling stations. The project “Horizons of Russia” has a number of key distinctions thanks to the unique navigation functionality, all interesting locations become stops on the route that a driver may can independently combine and modify at any time during the journey.

    The Krasnoyarsk Territory is a strategic region of Rosneft operations. The region is home to the major Group Subsidiaries, including RN-Vankor, Vostsibneftegaz, Slavneft-Krasnoyarskneftegaz, Achinsk Refinery, service, marketing and logistics companies, and filling stations.

    Vostok Oil, the flagship oil production project, is being delivered in the north of the region. Low unit production costs and low carbon footprint (only a quarter of the global average for new projects) make Vostok Oil one of the most promising and environmentally friendly oil production projects in the world. Industry experts estimate that the project will increase the annual Russian GDP by 2%.

    Rosneft is also implementing a large-scale program in the Krasnoyarsk Territory to support educational institutions that provide comprehensive training courses to skilled workers and engineers for the Vostok Oil Project. Over 400,000 specialists will be engaged at the construction stage alone, and over 130,000 workers will be employed on a long-term basis at the Vostok Oil operational stage. A total of 10,000 people are already working at the project facilities.

    Reference:

    Rosneft’s retail network is the largest in the Russian Federation in terms of geographical coverage and number of stations, and the Rosneft brand of petrol stations is one of the leading brands in Russia in terms of recognition and fuel quality. The Company operates approximately 3,000 filling stations in Russia, Belarus, Kyrgyzstan and Abkhazia.

    In addition to high-quality fuel, the Company offers its customers a wide range of goods and services, from stores and cafes to roadside service. For example, customers can stay for the night and get some rest from the long road in roadside hotels and multifunctional complexes of the Company in a number of regions.

    The Company is also developing a new customer service at filling stations – food trucks (mobile retail outlets). The Café on Wheels service is available at filling stations in Moscow, St. Petersburg and other regions where the retail network operates.

    Information & Advertising Department
    Rosneft
    June 10, 2024

    These materials contain forward-looking statements regarding future events and expectations. All statements contained in these materials that do not relate to matters of historical fact constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any expected results, performance or achievements expressed or implied by such forward-looking statements. We assume no obligation to update the data contained herein to reflect actual performance or results, changes in underlying assumptions or factors affecting the forward-looking statements.

    Keywords: Social News 2024

    Please note; this information is the raw content received directly from the information source. This is exactly what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: V.F. Stanis 100th anniversary medal: RUDN foreign alumni

    Source: Peoples’Friendship University of Russia –

    An important disclaimer is at the bottom of this article.

    The aaniversary medal to the 100th anniversary of V.F. Stanis is awarded to RUDN current and ex-employees and students for: significant contribution to the university development; long-standing commitment to maintaining ties with the university; fruitful cooperation of Russian and foreign organizations, scientists and public figures with the university.

    The aaniversary medal to the 100th anniversary of V.F. Stanis is awarded to RUDN current and ex-employees and students for:

    • significant contribution to the university development;
    • long-standing commitment to maintaining ties with the university;
    • fruitful cooperation of Russian and foreign organizations, scientists and public figures with the university.

    RUDN foreign alumni

    For their contribution to the promotion of RUDN abroad, for maintaining relations with the university and cooperation, 16 foreign graduates received the V.F. Stanis anniversary medal:

    1. Galina Abbas (Lebanon);
    2. Hamed Muhieddin Abou Zahr (Lebanon, Peru);
    3. Al-Twal Salam Fakhri (Jordan);
    4. Gupta Sudhir (India);
    5. Georges Aoun (Lebanon);
    6. Kalumbi Shangula (Namibia);
    7. Mizanur Rahman (Bangladesh);
    8. Mustafa Hammoud Al-Nawaise (Jordan);
    9. Navin Saxena (India);
    10. Najim Riad Yousef (Lebanon);
    11. Nilakshi Suryanarayan (India);
    12. Gagan Patwardhan (India);
    13. Rigoberto Santos Hilario (Dominican Republic);
    14. Ruben Dario Flores (Colombia);
    15. Auelbek Tokzhanov (Kazakhstan);
    16. Jose Hidalgo Salazar (Ecuador).

    Faculty of Economics and Law

    • Mizanur Rahman, graduate ‘81 — head of the Association of Alumni of Russian and Soviet Universities in Bangladesh.
    • Mustafa Hammoud Al-Nawaise, graduate ‘91 — international lawyer, former Secretary General of the Constitutional Court of Jordan.
    • Hamed Muhieddin Abou Zahr, graduate ‘92 — President of the Arab-Peruvian Chamber of Commerce, Vice-president of the Association of RUDN Alumni in Peru, Honorary Consul of Lebanon in Peru.

    Faculty of Science

    Graduate ‘78 of the Faculty of Science, majoring in Chemistry, Navin Saxena is the President of the international group of pharmaceutical companies: Rusan Pharma (India), Euro-Med (Russia), Pharmaker (Great Britain), Uzpharmaker (Uzbekistan), Pharmaker (Ukraine), Pharmaker (UAE) and owns the pharmaceutical companies Rusan Pharma and Pharmaker. In 2005, Rusan Pharma became a supplier of vital drugs under the Benefit-2005 program in the Russian Federation. It still remains one of the largest suppliers of drugs to the Russian Ministry of Health, the Russian Ministry of Defense and the Russian Ministry of Emergency Situations, as well as to the services of the Russian Army. Navin Saxena is the author of a large number of publications in Russian and foreign scientific journals, has drugs copyright certificates and patents.

    Faculty of History and Philology

    • Ruben Dario Flores, graduate ‘83 — Director of the Leo Tolstoy Institute of Culture in Bogota, Colombia.
    • Nilakshi Suryanarayan, graduate ‘80 — Head of the Department of Slavonic and Finno-Ugrian Studies at the University of Delhi, professor, teacher of Russian language and literature.
    • Galina Abbas, graduate ‘92 — President of RUDN University Alumni Association in Lebanon.

    All of them actively promote Russian education and the Russian language in their countries. Thus, Nilakshi Suryanarayan is the author of a popular manual among Indian students of philology, “Russian Verbs with Prefixes: Meaning and Usage”. Galina Abbas was awarded the Pushkin Medal, and Ruben Dario Flores is a translator of works by Russian poets A.Pushkin, B.Pasternak and A.Tarkovsky.

    Faculty of Medicine

    In 1978, Najim Riad Youssef graduated from the Faculty of Medicine. Najim Riad Youssef is the CEO of RamTEK LLC and Vice-Chairman of the Lebanese-Russian Friendship Society, popularizing Russian higher education and science abroad, which made him the Ambassador of Russian Education and Science.

    Kalumbi Shangula graduated from the Faculty of Medicine in 1983. He is the Minister of Health and Social Services of Namibia. He is member of the Medical Association of Namibia, the Royal Society of Tropical Medicine and Hygiene in Great Britain, and the New York Academy of Sciences.

    Faculty of Engineering

    The largest number of graduates awarded the medal to the 100th anniversary of V.F. Stanis graduated from the Engineering faculty: Jose Hidalgo Salazar in 1973, Patwardhan Gagan in 1975, Al-Twal Salam Fakhri in 1983, Rigoberto Hilario Santos and Georges Aoun in 1984.

    They continue to maintain contact with RUDN, creating new opportunities for the future students. Jose Hidalgo Salazar, CEO of IGGEKO LLC, became a laureate of the Order of Friendship. Al-Twal Salam Fakhri, a senior specialist in the regional office of the UN Development Program, member of the Jordan-Russia Friendship Society was awarded the Order of Friendship by the decree of the President of the Russian Federation. Rigoberto Hilario Santos, CEO of the engineering and construction company CONSUDOM SRL, member of the Presidium of the Dominican College of Architects and Geodesic Engineers, former Director of the Department of the Ministry of Public Works and Communications of the Dominican Republic, became the Ambassador of Russian Education and Science. Patwardhan Gagan, Head of Union Exports LLC, received the Order of Friendship for promoting the Russian language in Western India. Professor Georges Aoun, Head of the department of basic disciplines at the engineering faculty of the Lebanese University, organized summer schools with the Agrarian and Technological Institute, Engineering Academy and the Institute of the Russian language, as well as a double degree program with the Philological faculty of RUDN, author of a number of publication on teaching Russian as a foreign language.

    Faculty of Agriculture

    Auelbek Tokzhanov, a 1982 graduate of the Faculty of Agriculture, is currently the CEO of Skymax Technologies Group of Companies, AK Karal Diatomit Industry. He heads the UDN-RUDN Alumni and Friends Association in Kazakhstan and is a member of the expert group in the Innovative Economy direction of the Nur Otan party. Aulbek Tokzhanov is a co-founder of the Literary Alliance Public Foundation, which supports the work of Olzhas Suleimenov and young talents.

    Gupta Sudhir is a 1983 graduate of the Faculty of Agriculture and Chairman of the Board of Directors of Amtel Corporation. To support students, he has established 80 personal scholarships of 3,000 rubles per month. Gupta Sudhir was also awarded the Order of Friendship.

    V.F. Stanis anniversary medals were also awarded to 28 Russian graduates, employees and partners of RUDN University.

    Please note; this information is raw content received directly from the information source. It is an accurate account of what the source claims, and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Achievements of RUDN University staff and alumni recognized with state and departmental awards

    Source: Peoples’Friendship University of Russia –

    An important disclaimer is at the bottom of this article.

    RUDN University staff and alumni received state and departmental awards at the State Kremlin Palace during a festive concert in honor of RUDN 65th anniversary.

    State awards

    The honorary title “Honored Scientist of the Russian Federation” for great contributions to science and many years of conscientious work was awarded to:

    • Aslan Abashidze, Head of the Department of International Law, RUDN Law Institute, Honored Lawyer of the Russian Federation, Doctor of Laws;
    • Vitaly Eremyan, Head of the Department of Constitutional Law and Constitutional Legal Proceedings, RUDN University Law Institute, Honored Lawyer of the Russian Federation, Doctor of Laws.

    For merits in science and education, training of highly qualified specialists, and many years of diligent work, the Medal of the Order “For Merit to the Fatherland” II Class was awarded to:

    • Vladimir Vorobyov, Head of the Department of the Russian Language and linguoculturology, Institute of the Russian Language, Doctor of Pedagogical sciences.
    • Natalya Sokolova, Director of the Institute of Foreign Languages, Head of the Department of Theory and practice of foreign languages, PhD of Philological Sciences.

    The honorary title “Honored Inventor of the Russian Federation” for many years of productive inventive activity was awarded to Alexander Stepanov, Head of the Department of Dentistry of the Institute of Medicine, Doctor of Medical Sciences.

    Departmental awards

    Andrey Kostin, First Vice-Rector — Vice-Rector for Research of RUDN University, Doctor of Medical Sciences, was awarded the Russian Federation Presidential Certificate of Honor for achievements in science and education, training of highly qualified specialists, and many years of conscientious work.

    By the order of the Ministry of Science and Higher Education of the Russian Federation, the honorary title “Honorary Worker of Education of the Russian Federation” for significant contributions to education and diligent work was conferred on:

    • Svetlana Balashova, Head of the Department of Economic and mathematical modeling, RUDN Faculty of Economics, PhD of Physical and Mathematical Sciences;
    • Elena Kryazheva-Kartseva, Head of the Department of Russian History, RUDN Faculty of Humanities and Social Sciences, PhD of Historical Sciences

    State awards to foreign alumni

    State awards were also presented to foreign alumni who made significant contributions to strengthening international ties and promoting Russian education and science abroad.

    The Order of Friendship was awarded to :

    1. Hamed Muhieddin Abou Zahr (Lebanon), President of the Arab-Peruvian Chamber of Commerce;
    2. Mustafa Hammoud Al-Nawaise (Jordan), Lawyer;
    3. Najim Riad Yusef (Lebanon/Russia), General Director, RamTEK LLC;
    4. Navin Satyapal Saxena (India), Director, pharmaceutical company “Rusan Pharma”.

    За достижения в области гуманитарных наук и литературы, вклад в изучение и сохранение культурного наследия России и сближений культур наций трое выпускников награждены Медалью Пушкина:

    For achievements in the field of the humanities and literature, contributions to the study and preservation of Russia’s cultural heritage, and bringing national cultures closer together, the Pushkin Medal was awarded to:

    1. Galina Abbas (Russia/Lebanon), President of RUDN University Alumni Association in Lebanon;
    2. Liu Xin (China), Chairman of the Board of Directors of MBDK International Group;
    3. Tony François Simon-Pierre Ngan (Cameroon), Chairman of Alumni Association of Russian (Soviet) Universities in Cameroon “Soyuzniki”

    RUDN University congratulates its staff and alumni on receiving these awards!

    Please note; this information is raw content received directly from the information source. It is an accurate account of what the source claims, and does not necessarily reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: MKB paid the coupon and principal on Eurobonds CBOM 05/25

    Источник: Credit Bank of Moscow – Московского Кредитного Банка –

    Важный отказ от ответственности находится в нижней части этой статьи.

    MKB paid the coupon and principal on Eurobonds CBOM 05/25

    02.06.2025

    Please be informed about the status of the 16.5% subordinated RUB 5 bln Notes, issued in November 2014 (ISIN: XS1143363940) (CBOM 05/25).

    On June 2, 2025 MKB (“the Bank”) paid out coupons and the principal on Eurobonds CBOM 05/25. The payment was made in Russian rubles in favour of the all noteholders in Russian depositaries as at 23 May 2025, in accordance with the Executive Order dated March 5, 2022 No. 95 “On Temporary Procedures for Meeting Loan Obligations to Certain Foreign Creditors” and the Executive Order dated July 5, 2022 No. 430 “On the Repatriation by Residents Participating in Foreign Economic Activity of Foreign Currency and the Currency of the Russian Federation”.

    Fulfillment of payment obligations under Eurobonds remains a priority for MKB. For any additional information, please contact us via e-mail: capital_markets@mkb.ru.

    Примите к сведению; Эта информация является необработанным контентом, полученным непосредственно от источника информации. Она представляет собой точный отчет о том, что утверждает источник, и не обязательно отражает позицию MIL-OSI или ее клиентов.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Expert RA affirms MKB’s credit rating at ruA+

    Источник: Credit Bank of Moscow – Московского Кредитного Банка –

    Важный отказ от ответственности находится в нижней части этой статьи.

    Expert RA affirms MKB’s credit rating at ruA+

    10.06.2025

    Expert RA has affirmed MKB’s national scale credit rating at ruA+ (“Moderately high level of creditworthiness / reliability / financial strength”). The outlook is “Stable”.

    Expert RA’s analysts note that the rating reflects, in particular, MKB’s moderately strong market position, satisfactory funding and liquidity profiles, fair asset quality, and fair corporate governance practices.

    As for MKB’s market standing, the agency points out that it enjoys notable competitive positions in the corporate lending and cash management segments and a rather broad base of large- and mid-cap borrowers across many sectors, giving it an important role at the federal level. The analysts also note a low level of overdue debt.

    They also mention MKB’s high systemic importance. Its share of the banking system’s total deposits by private individuals and sole proprietors was 1.5% as at 01.04.2025.

    Click here for more details.

    Примите к сведению; Эта информация является необработанным контентом, полученным непосредственно от источника информации. Она представляет собой точный отчет о том, что утверждает источник, и не обязательно отражает позицию MIL-OSI или ее клиентов.

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Applications Open for the Meltwater Entrepreneurial School of Technology (MEST) Artificial Intelligence (AI) Startup Program – Africa’s Launchpad for Artificial Intelligence (AI) Founders

    Source: APO

     The Meltwater Entrepreneurial School of Technology (MEST Africa) (www.Meltwater.org), a leader in tech entrepreneurship training and early to growth stage startup support, has officially opened applications for its newly evolved Training Program; the MEST AI Startup Program. This bold redesign of MEST’s flagship Training Program is built to prepare Africa’s most promising tech talents to build, launch, and scale world-class AI startups.

    For over 17 years, MEST has trained and supported software entrepreneurs across the continent, contributing to Africa’s innovation economy. Now, as artificial intelligence transforms industries at a very rapid pace, MEST is positioning Africa’s tech entrepreneurs at the forefront of this shift.

    “Africa has world-class tech talent, and it’s time AI solutions built on the continent reach users everywhere,” says Emily Fiagbedzi, Director of the MEST AI Startup Program. “MEST is proud to contribute to this reality through our training and incubation program that equips talent from across Africa with training and mentoring from international experts for the development of globally relevant AI Software.”

    The MEST AI Startup Program is a fully-funded, immersive experience hosted in Accra, Ghana that equips Africa’s most promising AI entrepreneurs with the technical, business, and leadership skills to build and scale globally competitive startups. Over an intensive seven-month training phase, founders receive hands-on instruction, technical mentorship, and business coaching from global experts while developing AI-powered solutions to real-world challenges. The top ventures then advance to a four-month incubation period, where they refine their products, secure market traction, and sharpen their go-to-market strategies. At the end of incubation, startups have an opportunity to pitch for pre-seed investment of up to $100, 000 and join the MEST Portfolio.

    As MEST Founder Jorn Lyseggen notes, “Mastering AI and the advanced AI tools available today is a must for any entrepreneur and further levelling the playing field. The world has never been flatter. We are proud and excited to announce that the next batch of MEST entrepreneurs will be trained by some of the most knowledgeable people in the industry from companies such as OpenAI, Perplexity, Google, and Meltwater.”

    For the 2026 intake, the program is open to African founders based in West Africa aged 21 – 30 with software development experience who want to start their own AI startup.

    Apply now at https://bit.ly/MESTAI26_APO

    Distributed by APO Group on behalf of The Meltwater Entrepreneurial School of Technology (MEST Africa).

    Media Contact:
    Ophesmur Naa Adjeley Adjei
    Marketing and Communications Manager
    ophesmur@meltwater.org

    About MEST Africa:
    Established in 2008 as the non‑profit arm of Meltwater, the Meltwater Foundation drives job creation and economic growth in Africa through software entrepreneurship. Headquartered in Accra, Ghana, the Foundation’s Entrepreneurial Support Organisation—MEST—delivers a full-time, in-person intensive tech‑entrepreneurship training to emerging talent from more than 22 African countries and provides early‑stage investment to promising ventures. To extend this impact, the Foundation launched MESTx, a suite of collaborative programs designed and delivered with like‑minded partners to expand digital‑skills training and startup acceleration across the continent. Since inception, the Meltwater Foundation has trained 2,000+ entrepreneurs and invested in 90+ startups across the continent—fueling innovation, creating jobs, and shaping Africa’s next generation of tech entrepreneurs.

    Media files

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    MIL OSI Africa –

  • MIL-OSI Africa: Eco labels in South Africa don’t do the job: how to help customers make informed choices

    Source: The Conversation – Africa – By Miemie Struwig, Professor, Department of Business Management, Nelson Mandela University

    South Africans want to shop more sustainably, according to research published in the journal Sustainable Development. But most can’t tell which products are environmentally friendly.

    Some food manufacturers have introduced eco labels – a certification symbol placed on product packaging. This indicates the product meets specific environmental standards set by a third party organisation.

    These labels are meant to signal to consumers that a product has been produced in a way that limits harm to the environment. But our recent study with 108 South African consumers showed low recognition of eco labels, widespread confusion, and a need for clearer guidance.

    The results show that most South African shoppers are unfamiliar with these labels or unable to differentiate between real and fictional ones.

    In the European Union eco labels like the EU Energy Label are easily understood and highly visible. They are also usually supported by government awareness campaigns. Other examples of labelling systems that work well include those of Germany and Japan.

    These countries show that long term institutional support, mandatory labelling in key sectors, and consistent public messaging can greatly improve eco label recognition.

    We concluded from our research that South Africa lacks that national visibility and public education, leaving even motivated consumers unsure of what labels to trust. Based on our findings we recommend steps businesses, government and nonprofits can take to ensure that eco labels are clear, visible and understood.

    Eco labelling at its best

    The EU Energy Label is used on appliances such as fridges, washing machines and light bulbs to indicate their energy efficiency on a scale from A (most efficient) to G (least efficient).

    In countries like Germany and Japan, eco labels are government backed as well as being integrated into school curricula, public service announcements and shopping platforms.

    Germany’s Blue Angel label, which states “protects the environment”, has been in use since the 1970s. It appears on over 12,000 products and services, including paper goods, cleaning products, paints and electronics, that meet strict environmental criteria. It is supported by ongoing public education campaigns.

    In Japan the the Eco Mark appears on products with minimal environmental impact. It appears on items like stationery, detergents, packaging and appliances. Many retailers display explanations next to these products to help consumers understand the label.

    South Africans struggle to identify eco labels

    We conducted a structured online survey of 108 South African consumers. Participants were asked about their environmental awareness and their ability to recognise both real and fictional eco labels across ten images. According to the global directory of eco labels and environmental certification schemes, there are around 50 eco labels in South Africa.

    The EU Energy Label was the most recognised (87%).

    The Afrisco Certified Organic label, which is a legitimate South African label, was the least recognised, identified by just 22% of respondents.

    Fictional labels were mistakenly identified as real by many participants, revealing widespread confusion.

    Only 3 out of 10 labels were recognised by at least half the participants, suggesting a general lack of eco label awareness. These include the Energy Star Eco label; the EU Energy label and the Forest Stewardship council label.

    Age and employment status were significantly related to environmental awareness. Older and employed individuals showed higher levels of awareness.

    These findings suggest that consumers are not opposed to eco labels, they simply lack the knowledge and confidence to use them effectively.

    Eco labels have the potential to build brand trust, drive green purchasing behaviour, and support national sustainability goals. But they only work if consumers recognise and trust them.

    In South Africa, inconsistent use, small label size, and a lack of consumer education are holding eco labels back from achieving their purpose.

    What businesses can do

    Based on our findings, we recommend the following:

    • Use recognised and credible labels: Third-party certified labels are more trustworthy and reliable.

    • Improve label visibility: The most recognised label in our study was the EU Energy Label and was also the most prominent. Small, cluttered logos go unnoticed.

    • Educate your market: Explain what eco labels mean through packaging, marketing, and digital platforms.

    • Partner with government and NGOs: Awareness campaigns at national and community levels can help standardise eco label understanding.

    • Tailor communication efforts: Awareness efforts should consider age and employment demographics, as these affect levels of environmental engagement.

    The way forward

    South Africans are willing to support environmentally responsible products, but they need help identifying them.

    Businesses, government and nonprofits all have a role to play in making eco labels clearer, more visible, and more trustworthy.

    Eco labels must become more than symbols. They should be tools for transparency and trust, and a gateway to more sustainable shopping.

    – Eco labels in South Africa don’t do the job: how to help customers make informed choices
    – https://theconversation.com/eco-labels-in-south-africa-dont-do-the-job-how-to-help-customers-make-informed-choices-258081

    MIL OSI Africa –

  • MIL-OSI Russia: D. Trump demanded that the Fed Chairman resign immediately

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    NEW YORK, July 3 (Xinhua) — U.S. President Donald Trump on Wednesday took to the social media platform Truth Social to demand that Federal Reserve Board Chairman Jerome Powell “resign immediately.”

    The White House chief referred to an article about comments by Federal Housing Finance Agency head Bill Pulte, who called on Congress to investigate alleged political bias and misleading the Senate by J. Powell.

    Trump has previously threatened to remove Powell from office before his term ends next year, repeatedly criticizing the Fed chairman for refusing to cut interest rates. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Eastern Oil and Gas Forum is taking place in Vladivostok

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    VLADIVOSTOK, July 3 (Xinhua) — The 9th Eastern Oil and Gas Forum kicked off Wednesday in Vladivostok, the capital of Russia’s Primorsky Krai, to discuss major investment projects in the oil and gas industry in Eastern Siberia and the Far East, including the construction of processing facilities.

    The forum, organized with the support of the Primorsky Krai government, is taking place on July 2 and 3. The event brought together more than 150 participants, including top managers of the country’s oil and gas companies, investors, and government officials.

    Acting Consul General of the People’s Republic of China in Vladivostok Wang Jun said in his speech at the opening of the forum that profound changes are currently taking place in the global energy sector. Green transformation and technological innovations create new opportunities and challenges for this sector. The Far East, as a key node in the global energy supply chain, plays an important role in ensuring energy security and promoting low-carbon development. According to him, cooperation between China and Russia in the energy sector has broad development prospects.

    The two-day forum will discuss key investment projects, industry development strategies, logistics issues, efforts to find and build new export routes in the context of the transformation of global energy. Attention will also be paid to the development of the oil and gas sector in the Russian Far East and Eastern Siberia. –0–

    MIL OSI Russia News –

  • MIL-Evening Report: Too much vitamin B6 can be toxic. 3 symptoms to watch out for

    Source: The Conversation (Au and NZ) – By Nial Wheate, Professor, School of Natural Sciences, Macquarie University

    Selena3726/Shutterstock

    Side effects from taking too much vitamin B6 – including nerve damage – may be more widespread than we think, Australia’s medicines regulator says.

    In an ABC report earlier this week, a spokesperson for the Therapeutic Goods Administration (TGA) says it may have underestimated the extent of the side effects from vitamin B6 supplements.

    However, there are proposals to limit sales of high-dose versions due to safety concerns.

    A pathologist who runs a clinic that tests vitamin B6 in blood samples from across Australia also appeared on the program. He told the ABC that data from May suggests 4.5% of samples tested had returned results “very likely” indicating nerve damage.

    So what are vitamin B6 supplements? How can they be toxic? And which symptoms do you need to watch out for?

    What is vitamin B6?

    Vitamin B6, also known as pyridoxine, plays an important role in keeping the body healthy. It is involved in the metabolism of proteins, carbohydrates and fats in food. It is also important for the production of neurotransmitters – chemical messengers in the brain that maintain its function and regulate your mood.

    Vitamin B6 also supports the immune system by helping to make antibodies, which fight off infections. And it is needed to produce haemoglobin, the protein in red blood cells that carries oxygen around the body.

    Some women take a vitamin B6 supplement when pregnant. It is thought this helps reduce the nausea associated with the early stages of pregnancy. Some women also take it to help with premenstrual syndrome.

    However, most people don’t need, and won’t benefit from, a vitamin B6 supplement. That’s because you get enough vitamin B6 from your diet through meat, breakfast cereal, fruit and vegetables.

    You don’t need much. A dose of 1.3–1.7 milligrams a day is enough for most adults.

    Currently, vitamin B6 supplements with a daily dose of 5–200mg can be sold over the counter at health food stores, supermarkets and pharmacies.

    Because of safety concerns, the TGA is proposing limiting their sale to pharmacies, and only after consultation with a pharmacist.

    Daily doses higher than 200mg already need a doctor’s prescription. So under the proposal that would stay the same.

    What happens if you take too much?

    If you take too much vitamin B6, in most cases the excess will be excreted in your urine and most people won’t experience side effects. But there is a growing concern about long-time, high-dose use.

    A side effect the medical community is worried about is peripheral neuropathy – where there is damage to the nerves outside the brain and spinal cord. This results in pain, numbness or weakness, usually in your hands and feet. We don’t yet know exactly how this happens.

    In most reported cases, these symptoms disappear once you stop taking the supplement. But for some people it may take three months to two years before they feel completely better.

    There is growing, but sometimes contradictory, evidence that high doses (more than 50mg a day) for extended periods can result in serious side effects.

    A study from the 1990s followed 70 patients for five years who took a dose of 100 to 150mg a day. There were no reported cases of neuropathy.

    But more recent studies show high rates of side effects.

    A 2023 case report provides details of a man who was taking multiple supplements. This resulted in a daily combined 95mg dose of vitamin B6, and he experienced neuropathy.

    Another report describes seven cases of neuropathy linked to drinking energy drinks containing vitamin B6.

    Reports to the TGA’s database of adverse events notifications (a record of reported side effects) shows 174 cases of neuropathy linked with vitamin B6 use since 2023.

    What should I do if I take vitamin B6?

    The current advice is that someone who takes a dose of 50mg a day or more, for more than six months, should be monitored by a health-care professional. So if you regularly take vitamin B6 supplements you should discuss continued use with your doctor or pharmacist.

    There are three side effects to watch out for, the first two related to neuropathy:

    1. numbness or pain in the feet and hands

    2. difficulty with balance and coordination as a result of muscle weakness

    3. heartburn and nausea.

    If you have worrying side effects after taking vitamin B6 supplements, contact your state’s poison information centre on 13 11 26 for advice.

    Nial Wheate in the past has received funding from the ACT Cancer Council, Tenovus Scotland, Medical Research Scotland, Scottish Crucible, and the Scottish Universities Life Sciences Alliance. He is a fellow of the Royal Australian Chemical Institute. Nial is the chief scientific officer of Vaihea Skincare LLC, a director of SetDose Pty Ltd (a medical device company) and was previously a Standards Australia panel member for sunscreen agents. He is a member of the Haleon Australia Pty Ltd Pain Advisory Board. Nial regularly consults to industry on issues to do with medicine risk assessments, manufacturing, design and testing.

    Slade Matthews provides scientific evaluations to the Therapeutic Goods Administration as a member of the Therapeutic Goods Assessment and Advisory Panel. Slade serves on the NSW Poisons Advisory Committee for NSW Health as the minister-nominated pharmacologist appointed by the Governor of NSW.

    – ref. Too much vitamin B6 can be toxic. 3 symptoms to watch out for – https://theconversation.com/too-much-vitamin-b6-can-be-toxic-3-symptoms-to-watch-out-for-260400

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Session 4

    Source: European Central Bank (video statements)

    Session 4: New industrial developments and the evolving architecture of international trade

    Chair: Piero Cipollone, Member of the Executive Board, European Central Bank

    Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
    Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
    (together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)

    Discussant: Diego Comin, Professor, Dartmouth College

    https://www.youtube.com/watch?v=C4gqWLDCaOs

    MIL OSI Video –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Session 4

    Source: European Central Bank (video statements)

    Session 4: New industrial developments and the evolving architecture of international trade

    Chair: Piero Cipollone, Member of the Executive Board, European Central Bank

    Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
    Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
    (together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)

    Discussant: Diego Comin, Professor, Dartmouth College

    https://www.youtube.com/watch?v=C4gqWLDCaOs

    MIL OSI Video –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Session 4

    Source: European Central Bank (video statements)

    Session 4: New industrial developments and the evolving architecture of international trade

    Chair: Piero Cipollone, Member of the Executive Board, European Central Bank

    Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
    Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
    (together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)

    Discussant: Diego Comin, Professor, Dartmouth College

    https://www.youtube.com/watch?v=C4gqWLDCaOs

    MIL OSI Video –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Session 3

    Source: European Central Bank (video statements)

    Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment

    Chair: Luis de Guindos, Vice-President, European Central Bank

    Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
    Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
    (together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)

    Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York

    https://www.youtube.com/watch?v=KozVSM50NZg

    MIL OSI Video –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Session 3

    Source: European Central Bank (video statements)

    Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment

    Chair: Luis de Guindos, Vice-President, European Central Bank

    Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
    Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
    (together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)

    Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York

    https://www.youtube.com/watch?v=KozVSM50NZg

    MIL OSI Video –