Category: Russian Energy sector

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

A scientific expedition to study wild reindeer has been completed in Western Taimyr with Rosneft’s support, conducted as part of the corporate environmental programme Tamura. Scientists from Siberian Federal University (SFU) travelled approximately 2,500 kilometres by boat along the Pyasina River, over 1,500 kilometres on a radial route along the Dudypta, Tareya and Pura rivers, as well as more than 700 kilometres along the Khatanga and Kheta rivers.

The primary objective of this year’s wild reindeer research was to count the population and assess the distribution of animals in Western Taimyr using instrumental and ground-based observation methods. Annual monitoring of bio-indicator animals provides a comprehensive understanding of how climate change affects Arctic ecosystem condition.

During boat and stationary observations, scientists conducted photo and video recording of deer. The collected data will be processed during office-based work using specialised computer programmes.  To determine migration routes, specialists fitted GPS transmitters to several individual reindeer. Following the expedition, scientists also noted the appearance of large herds, predominantly male, on the right bank of the Pyasina.

Rosneft has been studying wild reindeer since 2014. During this time, comprehensive ground and aerial surveys of the animals have been conducted in Evenkia and Taimyr. The scientists utilized satellite tags to track the full annual migration cycle of reindeer, enabling the first-ever identification of seasonal behavioral patterns.

Rosneft pays special attention to environmental issues and biodiversity conservation, implementing the most extensive Arctic research programme since Soviet times. Under the Tamura programme, launched in 2024, scientists plan to update information on the status of key animal species in the northern region.

Tamura involves studying the Kara Sea polar bear subpopulation, wild reindeer populations in Western Taimyr, and valuable bird and fish species in the Yenisei estuary.  The data obtained will enable scientists to draw conclusions about ecosystem conditions and develop measures for regional biodiversity conservation. The programme will run until 2027.  In 2025, scientists have already conducted three expeditions to study the Kara Sea polar bear subpopulation, with a total of ten expeditions planned over four years.

Department of Information and Advertising
Rosneft
August 20, 2025

Keywords: Environmental news 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.

On 1 September, more than 2,700 students from Rosneft classes in 20 regions of Russia started their studies at school. As part of its “School — College/University — Enterprise” corporate continuing education system, Rosneft collaborates with 203 educational institutions, including 56 schools, 65 colleges, and 82 Russian and international universities.

Rosneft classes offer specially designed programmes that provide in-depth study of mathematics, physics, chemistry and computer science, guided by the best teachers. Students of 10-11 grades demonstrate excellent knowledge, becoming winners and medalists of academic competitions at various levels.

As part of the project’s expansion, 10 additional specialised 9th grade classes will open in Samara, Novokuybyshevsk, Ryazan, Tyumen, Gubkinsky, Nefteyugansk, Komsomolsk-on-Amur, Votkinsk, Dudinka and Sorochinsk in the 2025 academic year.

In time for the start of the school year, Rosneft subsidiaries helped to refurbish schools and update equipment at colleges and universities in the regions where they operate.

Thanks to Samotlorneftegaz, the laboratories and classrooms at the Nizhnevartovsk Construction College and Urai Polytechnic College have been supplied with the necessary equipment.

Vostsibneftegaz provided the Krasnoyarsk Transport and Service Technical College with training and laboratory equipment, and renovated the conference hall at the Krasnoyarsk Technical College of Welding Technology and Energy. RN-Vankor has equipped laboratories, workshops and classrooms with modern equipment for training workers at educational institutions supervised by the enterprise. The Achinsk Oil Refinery renovated the living quarters at Achinsk Boarding School No. 3, which educates children with hearing impairments from various districts of the Krasnoyarsk Territory.

With the support of Samaraneftegaz, the overhaul of schools in the villages of the Pokhvistnevsky District was completed, as was the technical re-equipment of seven classrooms in the Kinel-Cherkassky District of the Samara region. New sports grounds have been constructed at School No. 29 in Samara, interactive whiteboards have been purchased for School No. 41, and sound equipment has been acquired for School No. 16.

Udmurtneft helped to create a learning space at a school in Votkinsk, equipped with modern technology and software for working with information technology. Sports halls have also been renovated and refurbished.

RN-Nyaganneftegaz, the Tuapse Refinery, the Komsomolsk Refinery, the Ryazan Research and Production Centre, and other enterprises participated in equipping colleges with which cooperation agreements have been concluded as part of the Professionalitet federal project.

Yuganskneftegaz has helped to renovate eleven partner universities and five schools with Rosneft classes, as well as replacing furniture and buying laboratory equipment, computers, printers, interactive whiteboards, and other items. RN-Uvatneftegaz has created a multifunctional educational space at the Tyumen Technopark with infrastructure that allows to launch new educational programmes, to develop innovative technologies, and to exchange experiences.

Vostsibneftegaz, Udmurtenft, the Kuibyshev Refinery, and the Tuapse Refinery have purchased computers, multimedia equipment, laboratory equipment, and furniture for the universities under their supervision.

Furthermore, Rosneft and its subsidiaries organised festive events and congratulated schoolchildren on the start of the new academic year.

To mark Knowledge Day, for instance, over 1,300 Rosneft filling stations gave young visitors colourful timetables. At a number of Rosneft enterprises, parents of first-graders received additional financial support under collective agreements.

In Khanty-Mansi Autonomous District-Yugra, volunteers from RN-Yuganskneftegaz organised a festive event in Nefteyugansk for children who have been left without parental care and are currently living in the Solnyshko social shelter. The oil workers donated school supplies, clothing and other items necessary to the children in preparation for the new academic year.

As part of the Platform for Good Deeds corporate programme, employees of Rosneft’s central office in Moscow participated in the Let’s Get Children Ready for School campaign. The initiative provided more than 500 children from family centres in the Moscow, Krasnoyarsk and Kaluga regions with the necessary school supplies. The children were given backpacks, stationery, clothes and shoes.

As part of the Let’s Get Children Ready for School campaign, employees of RN-Nyaganneftegaz donated orthopaedic backpacks and art kits to children with disabilities. All kits are personalised to meet the individual needs of each child. Volunteers from SevKomNeftegaz and ROSPAN INTERNATIONAL also took part in this campaign, donating school supplies to children in need.

In the Yamalo-Nenets Autonomous District, Tyumenneftegaz employees provided everything necessary to study for around 200 children with disabilities who are under the care of the Special Child public organisation in Tyumen. Employees of Kharampurneftegaz and the corporate research centre in Tyumen donated school backpacks, stationery and games to the Russian Children’s Fund and the Boomerang of Good charity fund.

As part of the Gift for School campaign, Bashneft volunteers organised festive events for children from social institutions under their patronage and presented them with gifts — school backpacks, stationery, school clothes, sports uniforms and shoes. In total, around 700 children from more than 20 institutions received school supplies.

As part of the Good Car Rally campaign, volunteers from RN-Vankor and Vostsibneftegaz presented art kits and school backpacks filled with stationery to children from low-income families and social organisations in the Krasnoyarsk Territory.

Employees of Samaraneftegaz, Orenburgneft, the Saratov Refinery, the Kuibyshev Refinery, the Tuapse Refinery, the Achinsk Refinery, the Komsomolsk Refinery, the Novokuibyshevsk Oil Company, the Angarsk Polymer Plant, and other enterprises also helped children from sponsored orphanages, social and educational institutions prepare for the new school year. Employees of Udmurtneft donated encyclopaedias and fiction books for extracurricular reading to children’s institutions. Volunteers from the Novokuybyshevsk Refinery organised a For A’s quiz for children from the I.E. Egorov boarding school in Novokuybyshevsk, and provided them with stationery.

Volunteers from RN-Severo-Zapad organised a festive sports event for children at the Vsevolozhsk Social Centre. They presented the children with school and sports clothing, stationery, educational books and fiction books, as well as sports gear.

Department of Information and Advertising
Rosneft
1 September 2025

Keywords: Social news 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 Oil Company’s Board of Directors has approved the 2024 Sustainability Report.

The document presents the Company’s achievements in sustainable development, reflects its contribution to the development of national projects in the Russian Federation, and discloses key economic and environmental indicators, information about scientific and social projects, cultural and sporting events.

In 2024, Rosneft continued implementing the main objectives of its strategy aimed at increasing operational efficiency, caring for people and protecting the environment.

The Company is the country’s largest taxpayer and has for many years made a substantial contribution to ensuring the stability of the budget system, promoting Russia’s socio-economic development.  Rosneft actively participates in infrastructure development and the implementation of social projects, including in healthcare, education, culture and environmental protection, in the regions where it operates.

Environmental responsibility is one of Rosneft’s key priorities. The Company has consistently increased the volume of green investments: by year-end it reached 74 billion roubles, and over the past three years – nearly 200 billion roubles. The funds are allocated to programmes for improving pipeline reliability, constructing associated petroleum gas utilisation infrastructure, reducing emissions and other projects.

Rosneft’s tree-planting efforts make a key contribution to preserving our country’s ecological balance: in 2024, over 11 million trees of various species were planted across the country. Over the past three years, Rosneft has planted approximately 37 million seedlings – the total planting area is comparable to the size of Paris.

Rosneft applies the circular economic principles in water use. In 2024, the share of recycled and reused water exceeded 93.7% of the total volume of water used for production needs. This has reduced the volumes of “fresh” water taken from the external environment.  The Company’s total expenditure on wastewater management activities in 2024 amounted to 12 billion roubles.

In 2024, Rosneft continued land remediation work, including legacy lands. Since 2022, over 280 hectares have been restored, including 45 hectares last year.  Several major Company enterprises have completely finished remediation of legacy lands.

The Company continues its biodiversity research and protection project – in 2024 it launched the unique Tamura programme, aimed at obtaining information about the status of key animal species in the Arctic region.  Rosneft’s Scientific Centre organised five expeditions when  scientists studied the Kara Sea subpopulation of polar bears, wild reindeer and rare bird species.  The total length of aviation and water routes amounted to nearly 20,000 kilometres.

Continuous implementation of modern technologies is one of Rosneft’s development drivers. The total portfolio of registered patents exceeded 1,100 innovative developments in 2024.

Rosneft is the first Russian oil company to have successfully created in-house software to address operational challenges in geology, engineering, development and field operations. Today, the Company’s range of science-intensive software includes 24 software products, 17 of which have already been implemented in production activities.

In 2024, Rosneft continued systematic work on creating comfortable and safe conditions for employees, including those working in remote areas and harsh climatic conditions. One of the key areas of work was developing the “smart settlement” concept – a modern format of shift infrastructure with digital services, mobile applications and automated domestic systems.

Rosneft supports initiatives in education and youth development, undertakes construction and renovation of educational institutions in its regions of operation. For example, a new kindergarten for 320 children was built in Nizhnevartovsk, a new multifunctional educational centre with an area of over 2,000 square metres was built in the village of Elan-Chishma (Republic of Bashkortostan), and two schools were renovated in Syzran. Thanks to the Company’s assistance, a new outpatient clinic was opened in Ufa, and medical equipment was supplied to three hospitals in the Republic of Bashkortostan, Tyumen and Samara regions.

The Company actively develops the Platform of Good Deeds volunteer movement.  In 2024, Rosneft enterprises conducted nearly 2,000 volunteer events and projects involving 106,000 employees. Corporate volunteering plays an important role in addressing pressing social and environmental challenges in Rosneft’s regions of operation.

An important part of the Company’s social activities is the corporate sports and wellness Energy of Life programme, in which employees regularly participate and compete in various sports disciplines. The movement grows annually, and by the end of 2024 it united nearly 128,000 workers, representing almost 40% of Rosneft’s total workforce.

Department of Information and Advertising
Rosneft
August 13, 2025

Keywords: Corporate Governance 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.

The 7th of September is International Clean Air Day, a celebration of the importance of initiatives for the improvement of air quality. As part of its environmental activities in 2024, Rosneft has allocated more than 4 billion roubles for air quality protection.

A responsible attitude towards the environment is one of Rosneft’s core principles. In 2024, the Company’s green investments reached 74 billion roubles, exceeding the previous year’s level by 16%. Rosneft has allocated almost 200 billion roubles to environmental protection in just three years.

In support of the federal Clean Air project, and to promote Russia’s national development goals, the Company has developed an action plan to create a corporate programme that will reduce industrial emissions.

Rosneft’s subsidiaries implement a range of measures in their production activities. These include investment projects that benefit the environment and the use of highly effective environmental protection equipment. The Company is developing and implementing air quality control systems and installing stationary air quality monitoring stations. It is also fitting mobile environmental laboratories with advanced equipment.

The Company’s primary strategic objective is to achieve carbon neutrality by 2050. Rosneft has been implementing a programme to control fugitive emissions of methane and other hydrocarbons for several years. In 2024, over 3,000 km of pipelines were surveyed using aerial monitoring. Additionally, over 800 facilities at production sites were surveyed using ground-based monitoring equipment.

The Company’s environmental benchmarks include increasing the production of natural gas as a fuel with lower greenhouse gas emissions, and developing and launching new products that enable consumers to reduce their environmental impact and carbon footprint, and improve the efficiency of their production facilities.

Rosneft has always prioritised preserving and restoring natural resources, including forests. Forests help to purify the air and naturally absorb greenhouse gases. In 2024 alone, the Company’s enterprises planted over 11 million trees of various species in the regions of operation. Rosneft has planted around 37 million trees in total over the last three years.

Department of Information and Advertising
Rosneft
September 8, 2025

Keywords: Environmental news 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.

On the eve of the professional holiday, Shipbuilder’s Day, the Zvezda shipyard handed over the keys to 160 flats in new buildings in the town of Bolshoy Kamen to its employees. The Shipyard began developing a new residential area called Sadovyi in the coastal zone, starting with the construction of two eight-storey buildings.

The flats with panoramic sea views are ready for occupation. The interior decoration has been completed, the plumbing and electric cookers have been installed, and the balconies have been glazed. The adjacent territory features sports and children’s playgrounds, as well as parking spaces for residents’ vehicles. During the year, the residential area will see the construction of eight buildings containing 600 flats and covering an area of over 28,000 square metres.

Sadoviy residential area is the next phase of a project to build housing for Zvezda employees. Zvezda Shipyard now employs more than 5,700 people. Given the expansion of the shipyard’s activities and the resulting increase in the number of employees and their families, Bolshoy Kamen’s population is set to grow by almost a third. The Shipyard’s primary objectives include the provision of housing and infrastructure for shipbuilders. The total number of flats is set to exceed 5,000 in seven residential areas.

The housing programme for shipbuilders has been in place since 2016. During this period, 38 houses were commissioned and occupied in five residential areas, including seven built by the Primorsky Territory Government.

Department of Information and Advertising
Rosneft
27 June 2025

Keywords: Social news 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.

Udmurtneft (operated by Rosneft and China Petroleum and Chemical Corporation, or Sinopec Group) has deployed its first domestically manufactured electric mobile drilling rig.

By replacing the traditional diesel engine with an electric drive system, environmental impact has been minimised. Furthermore, the transition to electric drilling equipment has reduced energy consumption costs by 30%, saving approximately 1 million roubles per well.

The rig has a lifting capacity of 180 tonnes and is transported on a mobile semi-trailer chassis. The driller’s workstation features a comfortable enclosed cabin with joystick controls.  The electric power drive has accelerated drilling preparation by 12 hours and reduced time required for scheduled preventive maintenance.

The new drilling rig is currently being utilised at Udmurtneft’s Mishkinskoye field.  The capabilities of the domestic rig will subsequently be applied at other company deposits. Another similar drilling rig is scheduled to be commissioned this autumn.

Department of Information and Advertising
Rosneft
August 26, 2025

Keywords: Environmental news 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’s investments in projects for the beneficial use of associated petroleum gas (APG) totalled 303 billion roubles from 2013 to 2024.

Responsible attitude towards the environment is an integral part of Rosneft Oil Company’s corporate culture and one of the key principles of its business. Reducing greenhouse gas emissions is one of the Company’s strategic objectives. Rosneft implements a range of measures aimed at introducing innovative technologies, improving industrial safety and care for the environment.

As part of its Gas Investment Programme, the Company is working to increase the utilisation of APG in all regions where it operates. In 2024, Rosneft commissioned nine new facilities to help achieve this goal, including gas injection, power generation, gas preparation and utilisation facilities, and gas transportation infrastructure. The programme is being implemented in all regions of the Company’s operations and promotes the widespread introduction of innovative, energy-saving, «green» technologies into production processes.

While developing new fields, Rosneft carries out planning at the stage of drafting technical project documents. This comprehensive approach provides for all the measures necessary to utilise APG by a clearly defined deadline.

The Company’s specialists are constantly working to develop innovations that optimise and scale the process. For instance, in July 2025, employees of Orenburgneft (a Rosneft subsidiary) patented a technology for reducing the content of hydrogen sulphide and mercaptans in associated petroleum gas (APG). The innovation has been implemented at the Vakhitovskaya group of fields, resulting in a significant increase in APG utilisation, from 20 to 80 thousand cubic metres per day. The economic impact will exceed 1 billion roubles over five years.

Rosneft’s Energy Saving Programme, which is developed for a five-year period and updated annually, makes a significant contribution to reducing the Company’s carbon footprint. As a result, in 2024, Rosneft reduced its absolute greenhouse gas emissions by 1.1 million tonnes of CO2 equivalent.

Furthermore, the total savings in energy and fuel resources amounted to 363,000 tonnes of fuel equivalent. By 2030, the energy saving programme will reduce emissions by 4.7 million tonnes of CO2 equivalent.

Department of Information and Advertising
Rosneft
July 25, 2025

Keywords: Environmental news 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.

Specialists from the environment protection service of the Novokuibyshevsk Petrochemical Company, a Rosneft subsidiary, are implementing a unique environmental project. For the first time, biological wastewater treatment has now been carried out at the enterprise’s facilities using Eichhornia water hyacinth plants.

Several Rosneft enterprises in the Samara Region use phytofiltration technology in their wastewater treatment plants. The Kuibyshev Refinery was a pioneer in its implementation, using not only water hyacinths but also pancratium and sweet flag to achieve a high degree of wastewater disinfection. Eichhornia seedlings have also been successful at the Syzran and Novokuibyshevsk refineries’ treatment facilities.

Eichhornia is more than just a beautiful ornamental plant. Its powerful root system acts as an extremely effective natural filter. The roots absorb bacteriological contaminants, suspended solids, phosphorus, nitrogen and other chemical compounds from the water, ensuring a high level of purification and improving the quality of the water to resemble that of natural waterways. Importantly, the plant is at its most effective during the warm season, when bacteria are most active and the risk of contamination is greatest.

During the flowering period, Eichhornia produces blue inflorescences that transform the water surface into a flower garden. Using plants in the wastewater treatment process is an example of implementing environmental solutions that are proven to be both economically and ecologically efficient.

Department of Information and Advertising
Rosneft
July 16, 2025

Keywords: Environmental news 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.

Specialists from Rosneft’s Samara group of enterprises and ornithologists from Samara Luka National Park have summarised the results of the fieldwork stage of their joint project to study and protect the endangered white-tailed eagle within the reserve.

A key finding was data indicating that the population of this endangered bird had increased by more than a third in the Samara Luka National Park. Field studies conducted during the 2024–25 autumn and winter confirmed this positive trend. Scientists discovered new white-tailed eagle nesting sites in the park, suggesting that the nesting range is expanding. Monitoring of previously identified areas revealed the consistent presence of birds, active nest maintenance, and mating behaviour. Special measures have been introduced and patrols have been stepped up to protect key bird habitats in these areas.

The main indicator used to assess population dynamics was data from observations of reproduction. In 2024, all pairs successfully raised their young. The current activity of the birds, coupled with last year’s 100% nesting success, enables scientists to predict population growth within the reserve.

Raising awareness is an integral part of the strategy for conserving rare animals. As part of the project, information stands have been installed along the reserve’s walking trails to educate visitors about the distinctive features of the white-tailed eagle population. This species is the largest bird of prey in the Samara Region, and is listed in the regional, Russian and international Red Data Books.

Another important aspect of the conservation project is photographing and filming birds in their natural habitat. The material collected will be used to create a scientific archive, educational programmes, and further conservation initiatives. Additionally, plans are in place to organise a photo exhibition, The Orlan.

Protecting the environment is an integral part of Rosneft’s corporate culture and operating principles. The Company pays great attention to ornithological projects. Thanks to the support of its subsidiaries in various regions across the country, Rosneft is conducting research and implementing programmes to protect rare bird species such as white-shouldered eagles, wild geese and white gulls, etc.

Department of Information and Advertising
Rosneft
July 11, 2025

Keywords: Environmental news 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.

• HYDROCARBON PRODUCTION OF 121.6 MLN TOE
• LIQUID HYDROCARBON PRODUCTION OF 89.3 MLN TONS
• GAS PRODUCTION OF 39.3 BCM 
• EBITDA OF RUB 1,054 BLN
• NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS OF RUB 245 BLN
• FREE CASH FLOW OF RUB 173 BLN

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

Commenting on the results for the first half of 2025, Igor Sechin, Chairman of the Management Board and Chief Executive Officer of Rosneft noted:

“The first half of this year was characterized by a decline in oil prices primarily due to oil oversupply. The main reason is the active production build-up by OPEC countries, including Saudi Arabia, UAE, Iraq, Kuwait, while production growth is also observed in Brazil and other countries. According to our estimates and expectations of leading energy agencies, the oil market surplus will amount to 2.6 mln bpd in Q4 2025 and 2.2 mln bpd in 2026.

In addition, there was a widening of discounts on Russian crude oil due to tighter EU and US sanction restrictions and a significant ruble strengthening, which impacted the financial results of exporting companies. It should be noted that non-market formation of the national currency rate ultimately leads to non-market non-transparent pricing of oil and petroleum products both domestically and internationally.

Moreover, I would like to note the outstripping growth in natural monopolies tariffs, which is putting additional pressure on the oil industry in the challenging market conditions. There has been indexation of Transneft transportation tariffs for crude oil by 9.9% and oil products by 13.8% and RZhD freight rail transport tariffs by 13.8% since the beginning of the year, as well as indexation of Gazprom’s regulated wholesale gas prices by 10.2% and tariffs for transmission services by 11.6% since July.

Excessive indexation of tariffs regulated by the Russian Government accelerates cost-push inflation, encourages higher prices and is one of the reasons for the slower reduction of the key interest rate. Despite the decisions taken by the Bank of Russia in June-July, the pace of interest rate cut is clearly insufficient.

One of the consequences of a long period of the elevated key rate is the excessive ruble strengthening, which inflicts losses on both the Russian budget and the exporting companies. In addition, the high key rate leads to incremental interest expenses, which harms the financial stability of corporate borrowers, reduces profits and undermines their investment potential.

Under these conditions, Rosneft forms its budget based on realistic assumptions, using an oil price of $45/bbl. We continuously monitor, analyze and rank our portfolio. We are optimizing production and focusing on high-margin projects with a special tax regime, including Vostok Oil and Sakhalin-1, to create a source of dividend payments. At the same time, a number of other companies are paying dividends by raising debt.

For reference. Change in hydrocarbon production by major global oil and gas companies in H1 2025 as compared to H1 2024: bp (-5%), Shell (-4%), Chevron (+1%, including Venezuela), Equinor (+1%, target premium market – Europe), Saudi Aramco (+1%, due to commissioning of spare capacities with pressure on prices and higher debt), ExxonMobil (+13%, with low tax take based on Guyana’s and Permian resource base; target market – USA; taking into account challenges in securing domestic market; company in constant search for resources with projected depletion of the resourece base by 2035).

Despite the negative macroeconomic environment, Rosneft maintains strict adherence to its dividend policy and has been paying dividends without fail since 2000.

In the interests of our shareholders and in full compliance with the dividend policy, in August 2025, Rosneft completed the payment of final dividends approved by the Annual General Meeting of Shareholders. The total dividends for 2024 amounted to RUB 542 bln or RUB 51.15 per share”.

Operating performance

Exploration and production

The Company’s hydrocarbon production in H1 2025 amounted to 121.6 mln toe (4.99 mln boepd), including to 89.3 mln tons (3.67 mln bpd) of oil and 39.3 bcm (1.32 mln boepd) of gas.

Some companies demonstrated growth in hydrocarbon production in the reporting period, but it was ensured by increased production from international projects, including Venezuela, Iraq, Egypt and others. Rosneft, operating under service contracts, does not book reserves and account for commercial oil production.

In H1 2025, production drilling footage was about 6 mln meters, Rosneft commissioned 1.4 th. new wells with horizontal wells accounting for 74% of that amount.

In H1 2025, onshore in the Russian Federation, Rosneft completed 1.2 th. linear km of 2D seismic and 3.2 th. sq. km of 3D seismic works. Company completed testing of 17 exploratory wells with a success rate of 100%.

Vostok Oil Project

As part of the flagship Vostok Oil project, in H1 2025, Company completed 1.2 th. linear km of 2D seismic and 1.5 th. sq. km of 3D seismic works. Testing of 1 well was successfully completed, drilling of 1 well was completed, and construction of 4 prospecting and appraisal wells has begun.

The Company continues pilot development of the Payakhskoye and Ichemminskoye fields: in H1 2025, production drilling footage exceeded 62 th. meters, while 14 production wells were completed. Pilot production is being carried out at the Payakhskoye and Ichemminskoye fields with produced crude oil transported by trucks to the Suzun and Lodochnoye fields.

Work is underway at the ‘Vankor – Payakha – Sever Bay’ trunk oil pipeline. As of the end of H1 2025, 118,000 piles were installed; 608 km of pipeline were laid to design levels. The Company completed laying a backup pipeline crossing the Yenisei River; backfilling of the trench in the channel part is underway.

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

Refining

In H1 2025, the refining volume amounted 38.7 mln tons. Decrease in the refining volume is attributable to the need for maintenance and repair works as well as to the optimization of refinery utilization in view of the current pricing environment, logistics constraints and demand. The oil conversion rate increased to 77.6%, and the light products yield reached 60.3%.

Rosneft continuously works to maintain a high level of reliability of its oil refining assets. In particular, the Company provides the operation of its refinery process units with its own catalysts, which are necessary for the production of high-quality motor fuel. In H1 2025, Rosneft produced 1.3 th. tons of catalysts for hydrotreatment of diesel fuel and gasoline fractions, as well as protective layer catalysts. Rosneft subsidiaries also produced 40 tons of gasoline reforming catalysts and 176 tons of catalysts for hydrogen production, petrochemicals and adsorbents. 720 tons of coked catalysts for hydrotreatment of diesel fuel were regenerated.

The Company is a key supplier of high-quality motor fuels for Russian consumers. In H1 2025, 20 mln tons of petroleum products were delivered to the domestic market, including 6.4 mln tons of gasoline and 7.8 mln tons of diesel fuel.

Rosneft continues to actively participate in trading on the St. Petersburg International Mercantile Exchange. In the reporting period, 4.7 mln tons of gasoline and diesel fuel were sold on the exchange, which is 1.8 times higher than the required volume

Financial performance

The Company’s revenue in H1 2025 decreased by 17.6% year-on-year, amounting to RUB 4,263 bln on the back of the declining oil prices and a stronger ruble. At the same time, the rate of cost savings and expense reduction lagged behind the revenue dynamics, with one of the reasons being indexation of tariffs imposed by the natural monopolies. As a result, EBITDA in H1 2025 decreased to RUB 1,054 bln.

In H1 2025, the net income attributable to Rosneft’s shareholders amounted to RUB 245 bln. This indicator is still negatively affected by prohibitive level of the key rate of the Central Bank of the Russian Federation. In addition, non-monetary and one-time factors negatively affected the dynamics of the indicator in the reporting period.

The Company’s Capex in H1 2025 amounted to RUB 769 bln due to the scheduled implementation of the investment program mainly at Upstream assets. Free cash flow for the reporting period amounted to RUB 173 bln.

The net debt / EBITDA ratio at the end of H1 2025 amounted to 1.6х, which continues to remain at a level 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 H1 2025, the Lost Workday Injury Severity (LWIS) decreased by 40%.

As a result of accident prevention measures taken in H1 2025, the number of incidents related to process safety at the Company’s subsidiaries decreased. In particular, the frequency rate of severe loss of containment events (PSER-1) reduced by 52% versus H1 2024, and PSER-2 decreased by 22%.

In the reporting period, no gas, oil and water shows (release of oil, gas or water to the surface) were registered 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.

Rosneft’s subsidiaries maintain high standards of environmental safety in the field of water management in all regions of operations. The biological treatment facilities of the Ufa refineries play an important role in the Company’s effort to enhance the effective use of water resources. During January-June, biological treatment facilities processed 11.7 mcm of wastewater, and for seven years of the total operations processed volume exceeded 169 mcm of wastewater. At the Samara facilities the Company has been successfully implementing a unique ecological wastewater treatment project using water hyacinth.

Rosneft scientists have developed an innovative oil spot detection technology that will significantly increase the efficiency of environmental protection measures in the oil sector. The new technology makes it possible to distinguish between natural reservoirs and oil spots with high precision.

The Company’s leadership in sustainable development receives independent external recognition. In June 2025, Rosneft was included in the Climate Sustainability Index of non-financial companies constructed by the Moscow Exchange. The index includes shares of companies that are leaders in the sustainable development agenda with a well-established climate management system.

¹ This includes sales revenue and income from associated organizations and joint ventures.

Information and Advertising Department
Rosneft Oil Company
August 30, 2025

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