Rosneft H1 net income down 68% to $3 billion, warns of oil glut
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Finance
Posted By Global Banking and Finance Review
Posted on August 30, 2025
MOSCOW (Reuters) -First-half net income of Russia’s largest oil producer Rosneft declined by more than 68% to 245 billion roubles ($3 billion) due to weaker oil prices and a stronger rouble.
The head of the company, Igor Sechin, also said that the surplus on the global oil market, according to Rosneft and leading energy agencies, will reach 2.6 million barrels per day in the fourth quarter of this year, easing to 2.2 million bpd in 2026.
($1 = 80.8455 roubles)
(Reporting by Olesya Astakhova and Lucy Papachristou; writing by Vladimir Soldatkin; Editing by Jacqueline Wong)
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