The net profit of Russia’s state-owned oil company Rosneft fell by more than 68% to $3 billion in the first half of 2025, CEO Igor Sechin told Reuters.
“The first half of the year was marked by falling oil prices, mainly due to oversupply. The key reason is the active increase in production by OPEC countries, including Saudi Arabia, the UAE, Iraq, and Kuwait,” he said.
Sechin noted that, according to Rosneft and leading energy agencies, the global oil market surplus will reach 2.6 million barrels per day in the fourth quarter, before easing to 2.2 million barrels per day in 2026.
He also repeated his criticism of the Russian Central Bank’s tight monetary policy, which, in his view, supports a strong ruble.
At the same time, Reuters pointed out that Sechin’s remarks mark the first sign in months of Moscow’s concern over OPEC+’s strategy of accelerating output growth.
Rosneft’s Kuibyshev oil refinery in Russia’s Samara region halted crude processing on August 28 following a drone strike, sources in the oil and gas sector told Reuters. According to the sources, both primary crude distillation units — CDU-4 and CDU-5, each with a capacity of 70,000 barrels per day — were damaged in the attack. […]
Ukrainian drone strikes on Russian oil refineries, which resumed in August and hit at least seven large plants, could cause irreparable damage to Russia’s refining industry. This was stated by Sergei Vakulenko, senior fellow at the Carnegie Endowment for International Peace, Financial Times reports. Since the beginning of the month, drone attacks have fully shut […]
In temporarily occupied Crimea, gas stations have restricted the sale of AI-95 gasoline due to shortages, The Moscow Times reports. According to local residents, this type of fuel has disappeared from most stations, while at those where it is still available, sales are mostly made using vouchers issued by companies. The price of AI-95 has […]
Russia’s largest steelmakers are reporting a sharp decline in profits, citing rising interest rates, shrinking domestic demand, and international sanctions that limit access to foreign markets. This was reported by The Moscow Times. Magnitogorsk Iron and Steel Works (MMK) — one of the largest in Europe and the second-biggest in Russia — saw its profit […]
The Polish company Green Factory is interested in renting 500 hectares for growing vegetables in the Zakarpatsky region. The company plans to create its own raw material base in Ukraine. This is said in the statement of the Zakarpatsky regional administration. “The Representatives of the Polish company Green Factory Holding, Rytel Arthur and Martin Kusmerovsky […]
Next
Rising fuel prices amid developments in the Middle East could add between 0.5 and 1 percentage point to inflation in Ukraine in 2026, while secondary effects may increase this impact by an additional 1–2 percentage points. This was stated by Deputy Governor of the National Bank of Ukraine, Volodymyr Lepushynskyi, in an interview with Interfax-Ukraine. […]
Next
In the US, customers in Starbucks stores will be told the code of the drink, with which they can get information about where the grain of their choice was delivered, in what conditions it was grown and fried. Farmers who cooperate with the network, also can track their products. “We’ve been able to keep track […]
Next
The National Anti-Corruption Bureau of Ukraine (NABU) carried out investigative actions targeting the Head of Security of the Naftogaz gas supply company. This was reported in a statement published by the bureau on Telegram. “In response to media inquiries, we inform you that NABU detectives, under the procedural guidance of the Specialized Anti-Corruption Prosecutor’s Office […]
Next
Ukraine has received $3.35 billion into its state budget under the first Jobs and Private Sector Growth Development Policy Program, implemented jointly with the World Bank. The announcement was made by Ukraine’s Prime Minister Yulia Svyrydenko. The funding will be used to support the country’s macro-financial stability and finance priority state budget expenditures during the […]
Next
Goldman Sachs launches Marcus Invest asset management service for investors with small capital, according to Reuters. The service will automatically invest clients’ funds in exchange-traded funds (etf) on stocks and bonds and rebalance portfolios based on models that develop the bank’s investment strategy. Historically, Goldman Sachs has offered asset management services to clients with capital […]
Next
Startup company in the brokerage industry of the Robinhood on Monday for the first time published their monthly trade data platform. Robinhood Markets is a discount brokerage company that has become popular with novice investors, which offers commission-free trading through its website and mobile app. One of the key indicators which used in the brokerage […]
Next
Last year, Ukraine’s economy shrank by 4%, while the Cabinet of Ministers expected a decline of 4.8%. Data from the State Statistics Service show this. According to the Ministry of Economy, Ukraine’s GDP decreased by 4.2% in 2020. The fall in GDP last year was the first in five years. According to the State Statistics […]
Next
A serious scandal, which erupted in the Ternopil region, and subsequently has covered the whole territory of Ukraine, continues to grow. In the night of 2 to 3 July 2016, on the motor company which is owned LLC GLOBAL FID, attacked by a group of armed young people, in an amount of about 50 people, […]
Next
During the week, foreigners bought Ukrainian government bonds by UAH 2.844 billion, increasing the share of non-residents to UAH 102.864 billion, which is 10% of the total volume of IGLBs. The press service of the Ministry of Finance reports. Ukrainian banks remain the largest owners of IGLBs with a total share of 51.17%. During the […]
Next
The territory of the People’s Republic of China occupies the third place by area (after Russia and Canada, then the USA follows the PRC). However, it is in the first place in terms of population of more than 1.404 billion, leaving behind India (more than 1.377 billion) and the USA (more than 331 million). There […]
Next
Business activity growth in the United States slowed to an eleven-month low in March, as companies faced increased uncertainty and rising living costs linked to the ongoing war in Iran, which has been underway for nearly a month, according to S&P Global. The preliminary S&P Global U.S. Composite PMI fell to 51.4 this month, down […]
Next
India is preparing to introduce a new high-ethanol fuel blend to the market as part of its ongoing efforts to diversify energy supplies and reduce dependence on imported oil, Bloomberg reports. The new fuel will be officially launched at a fuel station operated by Indian Oil Corporation in New Delhi, after which it will become […]
Next
On Wednesday, Boeing announced the financial results of the 2nd quarter, which ended on June 30. Boeing Management noted that the company makes “tough, but necessary steps to adapt for a new realities of market.” Aviation giant is experiencing perhaps the most difficult times in its history, faced with a double crisis. On the one […]
Next
Ukraine places eight-year Eurobonds for 1.25 billion dollars at 6.875%. The demand is more than $ 3.3 billion. This was reported by Interfax-Ukraine, citing its own source. Initially, the benchmark profitability of the issue was 7-7.25%. Demand for Ukraine’s debt at the final rate exceeded $ 3.3 billion. According to the publication, Deutsche Bank, BNP […]
Next
Boeing has recommended suspending flights of 777 aircraft after the incident in the American city of Broomfield, where large wreckage of the aircraft engine during the flight covered the streets. You can read it in a statement published on the company’s website. This applies to aircraft with Pratt & Whitney PW4000-112 engines. The company said […]
Next
