Category: English Language

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.

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.

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

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.

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).

* 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.

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

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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.

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

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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.

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.

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.

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.