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 […]
JPMorgan shares increased because of the announcement of financial results for the 2nd quarter ended on June 30. Since the beginning of the year, JPMorgan shares have lost almost 30% because the global COVID-19 pandemic has hit the global economy, and the US Federal Reserve has cut rates to zero greatly reducing the profitability of […]
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Agricultural holding “Industrial Milk Company” (IMC) is planning to raise $ 20 million funding from the European Bank for Reconstruction and Development for appending of the floating capital. According to the bank’s website, the board of directors plans to consider the relevant draft at the meeting on April 20. The total cost of the project […]
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The Council of the European Union is set to approve two EU legislative acts on Tuesday, February 24, providing Ukraine with a €90 billion loan. The measures will allow technical work on the loan to continue even as Hungary blocks a third bill required to complete the process. This was stated by European Commissioner Valdis […]
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Shares of Zoom Video Communications, which rose 716% over the past 12 months, rose 5.8% during trading on Monday, but closed with an increase of 1.23%. This is very different from the general decline in the market on Monday – major US stock indexes closed lower: the S&P 500 by 1.86%, the Dow Jones by […]
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Microsoft will stop supporting Windows 10 on October 14, 2025. This was reported by the company’s press service. Thurrot writes that this means the date of the “death” of Windows 10. The publication adds that the new generation of operating system, which Microsoft will present next week, will not be called Windows 10, at least, […]
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The Digital Future Investment company became a co-investor in the startup YouAppi round “B”. According to the CEO of the Digital Future, Alexei Vitchenko, this is the first transaction of the Ukrainian investment company in the “B” round level. The deposit amount is not disclosed. American-Israel YouAppi service was founded in 2011. YouAppi technology is […]
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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 […]
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The European automotive market began 2026 in decline: in EU countries, the United Kingdom, and the European Free Trade Association (EFTA), 961,382 new cars were registered in January — 3.5% fewer than a year earlier, according to Carscoops. Sales of Tesla in the region fell by 17% to 8,075 vehicles. The company’s market share declined […]
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In the United States, Ford Motor Company announced a large-scale recall of nearly 500,000 Ford Edge and Lincoln MKX vehicles and more than 105,000 Mustang vehicles. According to Reuters, the first recall is due to a possible malfunction in the braking system, while the second is due to a failure of the exterior lighting. In […]
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Shares of Pfizer and BioNTech fell 1.74% and 2% (respectively) on Thursday amid news that companies will deliver half of their planned number of vaccines against COVID-19 in 2020. On November 20, Pfizer and its German partner BioNTech applied to the FDA (US Food and Drug Administration) for permission to use their vaccine in an […]
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Ukrainian companies need to boldly experiment with artificial intelligence (AI). Success will belong not to those with the most powerful model, but to those who integrate it most effectively into their processes. This was discussed during a panel at this year’s Forbes Tech 2025, according to the press service of Metinvest. The discussion featured Oleksii […]
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For the three quarters of 2021, the budget was overfulfilled in terms of revenues by 5.3%, or UAH 46.65 billion, from the plan and exceeds last year’s level by 20.8%. This was reported on the website of the State Treasury. In particular, in September the budget was overfulfilled by 6.4%, or UAH 6.2 billion, and […]
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The United States has given Germany a six-month deadline to resolve the issue of Rosneft’s German assets, allowing them to be temporarily exempted from U.S. sanctions, Bloomberg reported, citing informed sources. The Trump administration has indicated to Berlin that it is considering issuing a limited, non-renewable general license for Rosneft Deutschland. German authorities are currently […]
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Hyundai Motor Company and General Motors have unveiled initial plans for five jointly developed vehicles. Four of the vehicles — a compact crossover, a sedan, a pickup truck, and a mid-size pickup — are targeted at markets in Central and South America. All models will be available with both gasoline engines and hybrid powertrains. The […]
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TUI will receive another 1.2 billion euros in state aid in connection with the effects of the coronavirus pandemic, the press service of the travel concern said. “The € 1.2 billion stabilization package strengthens the group’s position, providing sufficient liquidity in an unstable market environment. This applies to both the tourist season of the winter […]
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Rising prices for memory chips are significantly affecting the production cost of smartphones. According to analysts at Counterpoint Research, in the first quarter of 2026 the cost of memory for manufacturers of budget smartphones could increase by 25%, reaching about 43% of the total cost of components. This estimate is based on a typical configuration […]
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