Rosneft’s net profit fell by 73% in 2025, - Reuters
Russia's largest oil producer, "Rosneft," reported that its net profit in 2025 fell by 73% (to $3.6 billion). The reasons cited were high interest rates, high income taxes, and sanctions.
Reuters reports this, according to Censor.NET.
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CEO Igor Sechin, a longtime ally of dictator Putin, said that in 2025, the Russian oil industry found itself in a "perfect storm" of negative geopolitical factors and harsh domestic macroeconomic conditions.
According to him, in 2026, high oil prices, exacerbated by the conflict in the Middle East, will be largely offset by rising freight rates, insurance costs, and other expenses.
Sechin added that in March, freight rates for shipping Russian oil to India from Baltic Sea ports exceeded $20 per barrel, which is 10 times higher than the cost of shipping oil from Russia to Europe in early 2022.
