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 […]
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 […]