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Category: DJF

  • MIL-OSI Russia: City rental offered favorable rates to participants of the night bike festival

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Participants of the Moscow Night Bike Festival will be able to take advantage of the favorable Velofest tariff. This was announced by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “The night bike festival will take place on July 5, its route will be 21 kilometers. “Velobike” has prepared special conditions for participants, and electric bicycles will be waiting for you on Luzhnetskaya Embankment. We continue to improve the accessibility, safety and convenience of bike rides, making them even more profitable for city residents on behalf of Sergei Sobyanin,” explained Maxim Liksutov.

    They offer to rent a bike for three hours for 549 rubles – that’s only three rubles per minute. The tariff can be purchased from July 3 until the end of the bike festival. The package is valid for seven days from the moment of payment or until the three hours are exhausted. During this period, the tariff can be re-issued.

    The number of bicycles is limited, those available for rent are listed in the app “Velobike”Those who will participate in the festival in their own transport will be able to use the technical inspection service at the city rental company workshop.

    Registration onbike festival is already open. The starting town will open at 20:00. The 21-kilometer route will begin on Luzhnetskaya Embankment and end near Sokolniki Park. Participants should arrive at the starting point at the time specified during registration, and also follow the rules for using bicycles and traffic.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/156182073/

    MIL OSI Russia News –

  • MIL-OSI Russia: “Active Citizens” to evaluate the program of events of circus tents

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    This summer, new entertainment awaits the residents of the capital. For the first time, within the framework of the project “Summer in Moscow” grand performances will take place “Circus Divertissements”with the participation of Russian circus artists.

    City residents and tourists can attend performances in picturesque places of Moscow: the Moskino cinema park, Izmailovsky Park and the Yuzhnoye Butovo landscape park. Spectators will see majestic lions and graceful tigers, funny clowns, mysterious illusionists and much more.

    The Active Citizen project invites Muscovites to join new vote, in which participants will have to evaluate summer circus programs.

    From Safari to Magic

    Thus, the circus in the Moskino cinema park has prepared a fascinating journey through the African savannah. The main characters of the program are Algerian lions. Guests will be shown unique numbers: the animals will demonstrate their strength, and aerial gymnasts on silk canvases will perform mesmerizing somersaults. A clown duo will present sparkling scenes with the participation of four-legged artists.

    “Active citizens” will have to appreciate another circus tent site. It is located near the Round Pond in Izmailovsky Park. Here they have prepared a program with the cinematic name “Striped Flight” – a dynamic show with the participation of Bengal tigers. Spectators will also see how bear acrobats from the legendary circus dynasty ride a bicycle, aerial gymnasts and a tightrope walker perform risky tricks, and a well-coordinated juggling duo performs in the arena.

    In the landscape park “Yuzhnoye Butovo” visitors will see “Magic of the Circus” – a bright and modern show with incredible pirouettes of gymnasts and acrobats, tricks of equilibrists, mysterious tricks of illusionists and show balletThe troupe of the Great Moscow Circus, under the direction of People’s Artists of the Russian Federation Edgard and Askold Zapashny, will also amaze you with their skills.

    For participating in the voting, users will be awarded points for the city’s loyalty program “A Million Prizes”. They can be used to receive goods and services from the program’s partners, including souvenirs with logos of Moscow’s electronic projects. In addition, “active citizens” can donate points to charity, top up their Troika transport card account and the Parking of Russia app.

    Chance to win tickets

    Muscovites will be able to take part in special promotion and win two invitation tickets to the show “Algerian Lions” in the circus tent at the Moskino cinema park. To do this, you need to vote and enter the promo code SHAPITO in the “My Profile” section on the website or in the project’s mobile app between July 3 and 13 “Active Citizen”. At the end of the promotion, a random number generator will select 50 winners.

    Project “Active Citizen” has been operating since 2014. During this time, more than seven million people have joined it, and in total, over seven thousand votes have been held. Every month, 30 to 40 decisions are implemented in the city. The project is being developed by the State Institution “New Management Technologies” and the capital Department of Information Technology.

    The creation, development and operation of the e-government infrastructure, including the provision of mass socially significant services, as well as other services in electronic form, corresponds to the objectives of the national project “Data Economy and Digital Transformation of the State” and the regional project of the city of Moscow “Digital Public Administration”.

    Three tent circuses will operate in the capital as part of the Summer in Moscow project

    Project “Summer in Moscow”— the main event of the season. It brings together the most vibrant events of the capital. Every day, charity, cultural and sports events are held in all districts of the city, most of which are free. The Summer in Moscow project is being held for the second time, and this season will be more eventful: new, original and colorful festivals and events will be added to the traditional ones.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/156193073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Intellectual Property Protection: Polytech Co-Organizes Landmark Conference

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The 26th scientific and practical conference “St. Petersburg Collegial Readings – 2025” on the topic “Intellectual Property: Theory and Practice” was held in St. Petersburg. The organizers were the St. Petersburg College of Patent Attorneys and Peter the Great St. Petersburg Polytechnic University. More than 230 intellectual property specialists from Russia, the Republic of Belarus, Kazakhstan and Uzbekistan discussed issues of legal protection, defense and use of intellectual property. Representatives of FIPS, EAPO, RGAIS also participated in the conference.

    At the grand opening, the President of the St. Petersburg College of Patent Attorneys Andrey Fedotov noted the diversity of the reports presented and wished the participants fruitful work. Director of the Center for Intellectual Property and Technology Transfer of SPbPU Ismail Kadiev emphasized that the readings represent a unique opportunity to exchange knowledge, ideas and experience, and that the research will contribute to the development of the intellectual property sphere in Russia.

    This year, the conference organized a separate section dedicated to industrial designs. Russian and Eurasian patent attorney Dmitry Borovsky from Saratov spoke about the characteristics of an industrial design and a work of design, and listed the changes made to the legislation. Russian patent attorney from Novosibirsk Alina Minakova explained how to protect your rights to a trademark.

    Asemgul Abenova, Head of the Industrial Designs Department of the EAPO Expertise Department, spoke about the Eurasian system of patenting industrial designs and the features of the Eurasian patent. She presented the stages of consideration of the Eurasian application, the types and amounts of fees, as well as the conditions of patenting.

    Russian patent attorney Elena Danilina and Washington State University (Seattle, USA) law professor Anna Bakhmetyeva spoke about the intellectual property rights of ethnic communities and transboundary features of legal regulation. The patent experts explained what object of intellectual property rights is folklore and reviewed the legal regulation of traditional knowledge in Russia and neighboring countries.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Media Olympus of Polytechnic: congratulations to the winners of the competition!

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The student competition “MediaActive Polytechnic”, which was held from March to May on the initiative of the Public Relations Department, has ended.

    The competition was held among students. To participate in it, it was necessary to form a team and demonstrate their creative abilities and activity in the official communities of the Polytechnic University VKontakte AndTelegram. The guys completed a variety of tasks: they filmed VK clips, shared photos from university events, and actively participated in surveys.

    “The media activity competition did not assume that you can simply leave more likes and comments under a post and win a prize. Here, students had to show creativity, polytechnic skills, love for the university and not lose interest during the three months that the competition lasted,” said Marianna Dyakova, Head of the Public Relations Department. “Every week, they had to complete tasks, and do it at a high level. And we are very glad that the guys responded and were ready to participate in such a long race. The most motivated ones came to the finish line. And we want to thank the teams that took first, second and third places: they were disciplined, active, and constant in their interest.”

    “Thanks to this competition, the guys were able to demonstrate their talents,” says Olesya Stepanova, head of the special projects department. “And an additional incentive for the participants was that if you create quality content, it will be published on the university’s social networks with a huge audience.”

    “We are always looking for caring students who want to prove themselves at the university, and this competition helped us find them,” says Marianna Dyakova. “They can become volunteers at our events or content makers. I think it makes sense to continue this competition. Perhaps we will fill it with even more creative tasks. Yes, it is connected with media activity, but the most important thing is that it brings to life the values professed by the Lepota ecosystem.”

    Six teams reached the final of the competition, and the winners were chosen based on the number of points earned. The most active and creative was the United Student Council of Dormitories, and each member of the winning team received a cash reward – five thousand rubles!

    Second place went to “6 frames”. Silver medalists will receive an unforgettable gift – a personal photo session in a professional photo studio of the Polytechnic University.

    The Chelyaba team came in third place; the bronze medalists were awarded branded sweatshirts.

    Congratulations to all participants and winners! Your activity and creative approach made the media space of Polytechnic even more vibrant, lively and relevant.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and the Ministry of Transport of the Russian Federation Agree on Cooperation in Development of Transport Infrastructure

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

    At the XXVIII St. Petersburg International Economic Forum, Rosneft and the Ministry of Transport of the Russian Federation signed an Agreement on Cooperation in development of transport infrastructure facilities.

    The document was signed by Rosneft CEO Igor Sechin and Russian Minister of Transport Roman Starovoyt.

    As part of the cooperation, the parties will focus on the construction and modernization of transport infrastructure facilities, and the development of international transport corridors.

    Improving the quality of road service on federal highways, enhancing services for road users, and introducing advanced materials and technologies in road activities will be important areas.  

    Particular attention shall be given to fulfilling government objectives, including the effective implementation of instructions of the Russian President and the RF Government in the area of transport industry and road infrastructure development.

    The signing of the Agreement shows the commitment of Rosneft to development of the country’s transportation infrastructure.

    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: Rosneft and Rosprirodnadzor Sign a Cooperation Agreement

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

    At the XXVIII St. Petersburg International Economic Forum, Rosneft and the Federal Service for Supervision of Natural Resources (Rosprirodnadzor) signed a cooperation agreement, which provides for consulting and expert support by the Service to the Company in the implementation of its investment projects.

    The agreement was signed by Igor Sechin, Chief Executive Officer of Rosneft, and Svetlana Radionova, Head of the Federal Service for Supervision of Natural Resources.

    The agreement will ensure timely compliance with the requirements of ecological safety and environmental protection while implementing investment projects at the stages of design, upgrade, reconstruction and commissioning preparation.

    An important area of work will be joint elaboration of proposals to improve Russian legislation in the area of environmental protection activities.

    The agreement envisages organizing joint events, such as scientific and practical seminars, creating working groups, as well as arranging advisory and working meetings.

    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: 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: Rosneft and the Ministry of Industry and Trade 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 Industry and Trade of the Russian Federation signed a Cooperation Agreement at the XXVIII St. Petersburg International Economic Forum.

    The document was signed by Rosneft CEO Igor Sechin and the Minister of Industry and Trade of the Russian Federation Anton Alikhanov.

    The Agreement expands the scope of cooperation between the Company and the Ministry and provides for implementation of joint initiatives to develop industrial infrastructure in Russia, including through localization and import substitution of foreign technologies and equipment.

    Under the Agreement, the parties will develop cooperation with the aim to support the export of industrial products, provide access to the markets of goods and services, and to carry out foreign trade activities.

    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: Igor Sechin: Ill-Conceived Strategy Results in Electricity Costs in Europe Five Times Higher Than In the US

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

    Lifting subsidies for green energy in the US shows that this country, unlike the European Union, is returning to a pragmatic policy, said Igor Sechin, Chief Executive Officer of Rosneft.

    The Company’s CEO noted that in the US, where electricity consumption has returned to growth after a decade of stagnation, the new administration is already revising its energy strategy in favor of traditional sources. For example, President Trump recently signed a series of executive orders aimed at revitalizing the coal industry. Simultaneously with regulations’ mitigation, the US Department of Energy has raised its forecast for US coal production this year by 6%.

    “The lifting of “green energy” subsidies in the US shows that unlike the European Union this country is coming back to a pragmatic policy. This has already led to the fact that the cost of electricity in Europe today is 5 times higher than in the US,” the CEO of Rosneft said at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    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: 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: OPEC+ Decision on Production Growth Justified, Oil Reserves at Minimum Level – Rosneft CEO

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

    Rosneft CEO Igor Sechin called decision by OPEC+ to forcefully increase oil production justified and far-sighted.

    During his keynote speech at the Energy Panel of the XXVIII St. Petersburg International Economic Forum, Sechin noted that the announced increase in production since May this year is three times higher than the alliance’s original plan. In addition, the entire OPEC+ production increase could be pushed back a year ahead of plan.

    “The decision of OPEC leaders to boost production appears today a very forward-looking and, a justified one from the market standpoint, given the consumers’ interest in light of uncertainty pertaining to the scope of the Iran-Israel conflict,” the CEO said.

    At the same time, Sechin noted, “Despite the announced production growth, there can be no question of an oil excess in the market in the long run” as “world oil reserves are now at their lowest levels in five years”.

    “Low oil prices suit consumers in the US, where the inflation-adjusted price of gasoline has already returned to 2019 levels. It is no coincidence that this is happening against the backdrop of the White House’s intensified Middle East policy and the conclusion of a number of agreements with key countries in the region”, – said 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: Rosneft CEO Explains EU Attempts to Lower Price Cap on Russian Oil

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

    The European Union seeks to increase the efficiency of oil purchases from Russia when it tries to push the reduction of the price cap on Russian oil, Rosneft CEO Igor Sechin said at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    During his keynote speech, the Company’s CEO noted that the European Union continues to attempt forcing down the price cap on Russian oil to $45 per barrel.

    “I believe that the real purpose of this is the EU’s desire to increase the efficiency of its purchasing from Russia, not to reduce Russian budget revenues, as was publicly declared. Figures confirm this: according to Western experts, since the beginning of 2023, Europe has purchased more than 20 billion euros worth of Russian oil, thus becoming the fourth largest buyer,” Sechin said.

    However, he believes it is obvious that the U.S. will not agree to lower the price ceiling because it would negatively affect the profitability of U.S. oil exports.

    The CEO of Rosneft separately noted the situation in Saudi Arabia, saying that imports of Russian dark oil products after the start of sanctions restrictions allow the kingdom to effectively meet the feedstock needs of its energy industry without affecting oil exports. The volume of fuel oil and vacuum gasoil supplied to the country from Russia over the past 12 months is more than six times higher than four years ago.

    According to Sechin, Indian refiners are using a similar approach today. India, the second-largest buyer of Russian oil, has nearly doubled its exports of oil products to Europe over the past three years.

    “Many producing countries need an oil price much higher than current levels to balance their budgets. Thus, according to IMF calculations, in 2025 this price is more than $90 per barrel for Saudi Arabia’s budget,” Sechin summarized.

    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: Sechin Names Russia, Venezuela, Iran as Key Players to Ensure Global Energy Security

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

    Russia, Venezuela and Iran are key players in the energy market and global energy security directly depends on their supply, Rosneft CEO Igor Sechin said at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    “Russia, Venezuela and Iran are key players in the energy market, and global energy security directly depends on their supply. These countries account for one-third of the global liquid hydrocarbons reserves and 15% of the global production. Without their resource base, it is impossible to facilitate the transition to the new landscape of the global energy industry,” the CEO said. 

    At the same time, according to Sechin, Russia’s real contribution to the Global Economy is proportional to its share in the global resource balance. 

    “Our country’s share in global hydrocarbon exports is about 15%. However, the Russian resource base is not only hydrocarbons, but also metals. Russia’s share in gold mining is about 10%, and in the mining of such metals as high-grade nickel and palladium it reaches 20% and 40% respectively,” the CEO said.

    Rosneft CEO also noted that Russia has about 10% of the world’s reserves of rare-earth metals, without which it is impossible to develop modern technologies.

    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: The Company’s commentary sent to interested foreign media:

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

    “In view of unprecedented amount of coverage in foreign media alleging imminent consolidation of assets in the Russian oil industry with a direct hint on Rosneft’s intention to take over the main players in the domestic oil domain, we believe it necessary to bring a message forward.

    Your efforts have been a complete success. Igor Sechin’s insidious intentions to take over the assets the Company has not any need for have been thwarted solely by your efforts. There is a small problem though, with the alleged intentions having nothing to do with reality and not following any reasonable business logic, but them being, according to the vocabulary of some well-known authorities, an attempt to “divert attention to a false flag subject” from “eligible subject”, apparently known to you – quite likely a manifestation of an alternative to “Evil Sechin”.

    Should the Plan B come to fruition, it would be desirable to consider a possibility of compensating the moral damage to the unfortunate victims of self-serving scheming on behalf of the players in this exciting PR campaign.

    In God we trust”.

    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: Sechin Compares ‘Green’ Energy Transition to Utopian Ideas

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

    Igor Sechin, CEO of Rosneft, compared the “green” energy transition to utopian ideas. According to him, over the last ten years, the cumulative costs of the energy transition have reached 10 trillion dollars, while over the same period the share of solar and wind energy in the global energy balance increased by only 4 p.p. to 6%.

     “According to the IEA, this year alone, the world is investing over $2 trillion in the development of so-called “clean” energy. This is twice as much as investments in fossil fuels, which still account for nearly 80% of global energy consumption,” said the CEO of Rosneft.

    Igor Sechin also emphasized that even a doubling of investments will not give the desired result. According to experts, achieving zero emissions by 2050 requires more than 180 trillion dollars in investments, which means that on average more than seven trillion dollars per year will have to be spent. “as Talleyrand once said: Everything that is excessive is insignificant,” the Company’s CEO remarked.

    Another important point is that the transition to a new type of fuel will require considerable time. “Besides this, regulators in different countries need to develop unified technical standards for new energy sources, providing their universalization and fast adaptation to any market. This is not a simple task,” 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.

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  • MIL-OSI Russia: ‘Net Zero’ Concept Actually Offers Mankind Energy Regression – Igor Sechin

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

    Proponents of the “net zero” concept are leading humanity to energy regression, said Igor Sechin, Chief Executive Officer of Rosneft, in his report “Odyssey of The Global Economy in Search of The Golden Fleece. The New Landscape of Global Energy”.

    During his speech at the Energy Panel of the XXVIII St. Petersburg International Economic Forum, the CEO of the Company noted that every time mankind switched to a new type of fuel, the efficiency of the energy system increased and its capabilities expanded. “This was due to the fact that the new energy source usually had a higher energy flux density,” Sechin added.

    He recalled that the outstanding scientist Pyotr Kapitsa proved that energy flux density is a key characteristic of any energy source. “By this indicator, such types of fossil fuels as coal (135.1 W/m2), oil (195 W/m2) and gas (482 W/m2), well as nuclear energy (241 W/m2) are far ahead of both solar (6.6 W/m2) and wind energy (1.8 W/m2). Thus, the concept of ‘net zero’ actually crosses out centuries of progressive development of society, offering mankind an energy regression”, – said the CEO of Rosneft.

    He stressed that European politicians lack the courage to publicly recognize this fact. “Their blind faith in the ‘green’ transition already resembles an addiction. As one of the classics of French literature aptly put: ‘A red nose is a sign of constancy of character’,” Igor Sechin emphasized.

    “Clearly, the integration of renewables requires a profound transformation of infrastructure, the scale of which is underestimated. The IEA estimates that global investment in grid development is two and a half times behind investment in generation,” he 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: Sechin Points Out Lack of Scientific Basis for Climate Alarmism

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

    From a scientific point of view, the large-scale introduction of RES will not have the expected effect on the climate. The refusal of the main initiators of the climate agenda from its implementation and the termination of preferential financing of “green” projects is confirmed by objective conclusions of a number of scientists. This was stated by Igor Sechin, Chief Executive Officer of Rosneft, during the Energy Panel of the XXVIII St. Petersburg International Economic Forum.

    Sechin noted that the whole concept of “net zero” is based on the assumption of climate destruction due to the growing concentration of carbon dioxide. However, recent studies by Western experts have confirmed earlier conclusions by Nobel laureate John Clauser about the dominant influence of clouds on climate processes. “Even a slight decrease in cloud cover at altitudes below 2,000 meters can increase solar heating of the Earth’s surface by a few per cent. This effect is several times greater than the effect that doubling the concentration of carbon dioxide in the atmosphere would have on climate,” said the CEO of Rosneft.

    According to the conclusions of American physicists Richard Lindzen and William Happer, achieving “net zero” in the U.S. by 2050 will avoid a temperature rise of only two hundredths of a degree Fahrenheit, and worldwide – only thirteen hundredths of a degree. The effect looks obviously disproportionate to the amount of costs required, Igor Sechin emphasized.

    He also noted the ambiguity of the thesis about the reduction of the ice cover, which is often used by supporters of the theory of the “green” transition. Recent studies by Chinese scientists have shown that from 2021 to 2023 in Antarctica there was a significant increase in ice mass, 108 gigatons annually.

    The CEO of Rosneft believes that the development of RES should be based on time-tested traditional energy sources in order not to undermine global energy security. Historically, the energy transition has always been the result of growing inter-fuel competition based on the principle of the greatest efficiency. Therefore, today, coal remains the largest source of electricity in the world and the second largest source of energy with a 25% share of the global energy mix.

     “Global demand for the fuel set a new record of 8.8 billion tons last year and international agencies have once again been forced to revise expectations for peak demand,” Sechin summarized. Despite growing global concern over global warming, global coal consumption has grown by 75% since the Kyoto Protocol was signed in 1997 and by almost 15% since the Paris Agreement was signed in 2015.

    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: 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.

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  • 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.

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  • 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: Rosneft and RusHydro will continue to develop charging infrastructure for electric vehicles at gas stations

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

    As part of the 9th Eastern Economic Forum, Rosneft and RusHydro signed a Letter of Intent on cooperation for the development of charging infrastructure for electric vehicles.

    The agreement proposes installation of charging stations for electric vehicles at Rosneft’s gas stations in Russian regions, as well as cooperation for construction of gas stations and charging complexes as part of multifunctional road service zones on toll roads. All electric modules will comply with the current standards and will support the fast charging function.

    Rosneft’s retail network currently operates 80 electric charging stations at its gas stations in 12 regions of Russia stretching from St. Petersburg to the Zabaikalsky Territory. Most of the stations support the fast charging function – they can charge the battery of an electric vehicle up to 80% in just 20 minutes.

    The agreement with RusHydro was signed as a follow-up to the commitments that the parties made in 2021.

    The brand of Rosneft filling stations is one of the leaders in terms of recognition and quality of the fuel nationwide. The geography of Rosneft’s retail business covers 61 regions of Russia. The network of the Company’s filling stations includes almost 3,000 sites.

    Expanding the range of customer services is one of the key areas of Rosneft’s retail business. Infrastructure development will allow drivers to charge electric vehicles at the widespread network of Rosneft gas stations across Russia. The Company will continue to expand the geography of charging stations in line with demand forecasts and the development of the electric vehicles market.

    Department of Information and Advertising
    Rosneft Oil Company
    September 4, 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.

    Keywords: Social News 2024

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    MIL OSI Russia News –

  • MIL-OSI Russia: Rosneft and the Khabarovsk Territory develop cooperation

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

    Rosneft and the Government of the Khabarovsk Territory signed a long-term Cooperation Agreement within the 9th Eastern Economic Forum.

    The document was signed by Igor Sechin, Rosneft CEO, and Dmitry Demeshin, Acting Governor of the Khabarovsk Territory.

    The agreement provides for cooperation between the parties in the implementation of industrial, financial and social programs to improve living standards in the Khabarovsk Territory.

    Under the Agreement, Rosneft will support the development of the region’s industrial and scientific potential. In particular, the Company plans to expand cooperation with local enterprises. The Agreement implementation will contribute to the improvement of investment attractiveness as well as innovation and educational activities efficiency in the Khabarovsk Territory.

    Under the document, Rosneft and the Territory Government plan to develop and implement environmental protection and educational projects together.

    In particular, the parties agreed to develop training and advanced training system for the Khabarovsk Territory workers and engineers.

    For reference:

    Rosneft plays a key role in petroleum product supply in the Khabarovsk Territory and the entire Far East. Komsomolsk Refinery is the largest refinery in the Khabarovsk Territory with more than 20 items in the product range: grade 5 high-octane gasoline and diesel, low-sulfur marine fuel RMLS 40, etc. The refinery supplies petroleum products to the Khabarovsk Territory as well as to the Primorsky Territory, the Amur, the Sakhalin, the Magadan, the Kamchatka regions and the Jewish Autonomous Region.

    Department of Information and Advertising
    Rosneft Oil Company
    September 4, 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.

    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 the Republic of Sakha (Yakutia) develop cooperation in the social sphere

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

    Rosneft and the Republic of Sakha (Yakutia) signed an Agreement on financing the construction of a cultural center in the Republic of Sakha (Yakutia).

    The documents were inked by Igor Sechin, Chief Executive Officer of Rosneft, and Aysen Nikolaev, Head of the Republic of Sakha.

    In accordance with the arrangements reached, a Multifunctional Cultural Center will be built in the village of Tas-Yuryakh, Mirny District, using the Company’s funds. The complex will include a village culture center, a library, a post office, an assembly hall and a gym.

    In 2023, Taas-Yuryakh Neftegazodobycha (part of Rosneft), supported the establishment of a Growth Point center for industry-specific and digital education at the school of Tas-Yuryakh village – the rooms for robotics, 3D modeling, and the school press center were renovated. The school was provided with a TV studio, a language laboratory, and a local history museum that features an exhibition and educational exposition.

    Rosneft pays great attention to supporting educational, social, cultural and enlightenment projects in the Republic. According to the Cooperation Agreement signed between the Company and the Government of the region in 2015, major joint projects are being implemented.

    In 2022, in the year of the 100th anniversary of the Republic of Sakha, Rosneft opened the Small Academy of Sciences in the village of Chapaevo, Khangalassky District, which has become a kind of hub of research and project activities for schoolchildren throughout the Far Eastern region. Children from both big cities and remote areas of the Republic study in the new 7,000 m2 building. The facility functions according to the model of the Sirius Educational Center.

    In addition, the Company allocated funds in 2023 to establish a Full Cycle Oil and Gas Process Factory training center on the basis of the Regional Technical College in the town of Mirny. The Center is scheduled to be opened this year.

    Reference:

    Rosneft is represented in Yakutia by Taas-Yuryakh Neftegazodobycha, which is developing the Srednebotuobinskoye oil and gas condensate field. The entity is one of the three largest Rosneft assets in the East Siberian oil cluster. Production exceeds 5 million tons of oil per year. The entity carries out large-scale geological exploration in the Republic of Sakha.

    Department of Information and Advertising
    Rosneft Oil Company
    September 4, 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.

    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: Digital Revolution Opens New Era in Oil And Gas Industry Development – Sechin

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

    The digital revolution is opening a new era in the development of the oil and gas industry, Rosneft CEO Igor Sechin said at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    “The digital revolution is opening a new era in the development of the oil and gas industry, including the impact on oil exploration, production, refining, data storage and cybersecurity of the industry,” Sechin said during his keynote speech.

    Sechin cited expert estimates that the market for artificial intelligence technologies in the oil and gas industry will grow by 83% by 2030. At the moment, 49% of this market is in the refining segment. It is expected that the introduction of artificial intelligence in the upstream segment will grow by 14% per year over the next five years, said 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: Global Energy Consumption to Grow By Quarter By 2050 at Expense of Developing Countries – CEO of Rosneft

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

    Global energy consumption will grow by a quarter in the next 25 years, and the key driver of demand growth will be developing countries, said Igor Sechin, Chief Executive Officer of Rosneft, at the Energy Panel at the XXVIII St. Petersburg International Economic Forum.

    “By 2050, with energy consumption in Africa, India, and Southeast Asia at the level of China’s population today, the combined additional consumption will amount to about 50 million barrels of oil equivalent per day. This represents a quarter of the current global energy demand,” the CEO said during his keynote address.

    He noted that developing countries are becoming one of the key drivers of energy consumption growth. One of the main reasons for this is demography. In the next 25 years, the population of African and Asia-Pacific countries will grow by a total of 1.4 billion people, which will provide almost the entire world population growth.

    In addition to positive demographic dynamics, the CEO of Rosneft named urbanization in Asia and Africa as one of the reasons for the growth in energy demand. According to the IEA’s estimate, which was cited by Rosneft’s CEO, in the next 25 years the number of city dwellers in these countries will increase by more than 1.6 billion people.

    Igor Sechin called the growth of electricity consumption a key challenge. Thus, in his opinion, already in 2025, investments in this sector will exceed investments in fossil fuels by 50%. “Indeed, over the past 15 years, electricity consumption has grown at a faster pace, and according to IEA projections, electricity generation is set to nearly double over the next 25 years,” he added.

    Asia-Pacific countries will also make the largest contribution to this growth, accounting for 60% of the increase in consumption.

    “This trend is particularly evident in India, where peak demand on the power system has risen by nearly 70% over the past decade,” 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 –