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About the company Rosneft

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Rosneft is Russia's largest oil company by production volume and one of the largest oil producers in the world. The company is controlled by the state and grew to its present size mainly through acquisitions: almost every notable jump in its production is linked to the purchase of another company. The shares trade on the Moscow Exchange under the ticker ROSN.

What the company does

As with other vertically integrated companies, the chain runs from the wellhead to the filling station: production, refining, marketing. But scale changes the nature of the business — at these volumes the company moves the country's industry statistics and becomes a direct participant in the state's energy policy.

Revenue depends on the oil price and the rouble exchange rate; profit depends on the tax formula as well. A distinctive feature is the large long-term supply contracts with Asia, some of which come with prepayment: this brings in cash today but ties up future volumes.

The main development project is the greenfield development of fields in Eastern Siberia and the Arctic, together with a pipeline and a port. Projects of this kind require years of investment before the first revenue.

Business lines

  • Exploration and production

    Fields in Western and Eastern Siberia and the south of Russia, and offshore projects.

  • Refining

    The country's largest network of oil refineries.

  • Marketing

    Wholesale supplies, exports and a retail network of filling stations.

  • Gas business

    Production of natural and associated gas — a line of business that grew along with the acquisitions.

History

  1. 1993A state enterprise is created, bringing together the oil assets that were not included in other companies.
  2. 2004–2007Acquisition of the largest production asset of a bankrupt company — production increases several times over.
  3. 2006The shares are offered on the stock exchange, including to private investors.
  4. 2013The purchase of the country's third-largest oil company makes Rosneft the largest publicly traded oil producer in the world.
  5. 2019Launch of the project to develop the Arctic cluster — the industry's largest construction project in decades.
  6. 2022Sanctions and the embargo on seaborne supplies to Europe redirect exports to the east.

Business review

Strengths and weaknesses describe the business itself. Opportunities and threats describe what may happen around it.

Strengths

  • First place by production and an extensive resource base.
  • Long-term contracts on the eastern route.
  • State support for large projects, including tax terms.

Weaknesses

  • A heavy debt burden and a capital-intensive investment programme.
  • Production limits under producers' agreements hold back volumes.
  • Profit is sensitive to the oil price, the exchange rate and tax changes.

Opportunities

  • The Arctic project can add a significant volume of production once the infrastructure is completed.
  • Long-term contracts with Asian buyers secure sales outside the European market.
  • State support for large projects includes tax breaks for new fields.
  • A weaker rouble increases rouble revenue when the price of a barrel is unchanged.

Threats

  • The oil price and the production limits set under international agreements are beyond the company's control.
  • Sanctions against the industry restrict access to technology and equipment for complex projects.
  • The debt burden built up in the course of the acquisitions becomes more expensive to service when interest rates are high.
  • Large projects require investment long before the first revenue — that means years of negative cash flow.

Frequently asked questions

What does Rosneft do?

The company explores for and produces oil and gas, refines the crude at its own refineries and sells petroleum products in Russia and abroad. By production volume it is the country's largest oil company.

Who owns Rosneft?

Control rests with the state — the main stake belongs to a state holding company. Part of the shares is held by a foreign strategic investor, and the rest trade on the stock exchange.

What is a vertically integrated oil company?

It is a company that owns the whole chain: it produces oil, refines it itself and sells the fuel to the end consumer itself. This structure smooths out price swings — when the profitability of production falls, the profitability of refining rises.

Information as of 20 August 2026

Business description and risk factors. Not investment advice.

Issuer profile

What the company does

The company is classified under the «Oil & gas» sector, using the taxonomy we apply when comparing securities with one another.

The same sector holds 21 issuers on the platform, and their figures are computed by one method — so this company's revenue, profit and leverage can be compared with them directly.

The company is registered in Russia and identified in regulatory disclosure by tax number 7706107510. That number locates its statements in state registries regardless of how its name is spelled — and the spelling differs even between official documents.

Listed securities

The issuer has 28 securities listed: 1 share class, 27 bond issues. All are shown on this page, including those trading in different modes and different currencies.

Across Moscow Exchange quotation list levels the securities split as follows: 16 at level 1, 3 at level 2, 9 at level 3. The level reflects how strict the disclosure, turnover and track-record requirements the issue meets are — not how attractive the investment is.

Bond issues

The nearest issue matures on 25 November 2026 and the farthest on 27 February 2036. That spread means the issuer borrows both short and long, and the yields of these issues will differ for the simple reason that the money is lent for different terms.

The largest issue by face value is RU000A0JX132, with a face value of 1,000.00 ₽ per bond, maturing on 25 November 2026. Bond prices in the order book are quoted as a percentage of face value, so a quote of 98.4 means 98.4 % of that amount rather than an absolute price.

Dividend history

Between 2015 and 2026 the issuer made 19 payouts whose record date has already passed. A board recommendation or a forecast does not enter this history, because no money has been paid on them yet.

The most recent payout was 2.27 ₽ per security with a record date of 9 July 2026. That is the amount before tax: the broker withholds it on crediting, so less arrives in the account.

Financial statements

The most recent annual report we hold is for 2026 under RAS. The standard is named for a reason: IFRS and RAS compute the same quantities by different rules, disagree by design and are never averaged.

Revenue for 2026 was 1.73T ₽.

That is 8.3 % less than in 2025, when revenue was 1.88T ₽. The comparison stays within one reporting standard — otherwise the decline could turn out to be a change of accounting rules and nothing more.

Net income for 2026 was 25.10B ₽.

Of every unit of revenue, 1.5 % remained as net income. This is the ratio of two figures already named above rather than a separate line from the report: comparing it across companies is meaningful only within one sector and one reporting standard.

Equity stands at 2.63T ₽ against total assets of 15.48T ₽. The difference between the two is the company's liabilities, and the larger it is relative to equity, the more the business depends on borrowed money.

This section is assembled from our own data on the company's securities, dividends and financial statements. It is a description, not a recommendation.

Securities of this issuer

Shares1

Bonds27