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All of Russia's largest oil companies reported a collapse in profits for the first half of 2025, The Moscow Times writes.

Rosneft (produces every second barrel of Russian oil):
▪ shareholder profit down threefold (from 773 billion rubles ≈ $9.51 billion to 245 billion rubles ≈ $3.01 billion);
▪ revenue: - 18% (to 4.3 trillion rubles ≈ $52.89 billion);
▪ EBITDA: - 36% (to 1.1 trillion rubles ≈ $13.53 billion);
▪ capital expenditures: +11% (to 769 billion rubles ≈ $9.46 billion).

Lukoil (Russia's second-largest oil producer):
▪ profit halved (287 billion rubles ≈ $3.53 billion vs. 590 billion rubles ≈ $7.26 billion a year earlier);
▪ revenue: - 17%;
▪ EBITDA: down 1.6 times.

Gazprom Neft:
▪ profit decreased by 54.2% - to 150.5 billion rubles ≈ $1.85 billion;
▪ revenue: - 12%;
▪ EBITDA: - 27.6%;
▪ dividends for the first half of 2025 amounted to 17.3 rubles/share (vs. 51.96 rubles/share in 2024).

Surgutneftegaz:
▪ lost 452.7 billion rubles ≈ $5.57 billion in six months and turned unprofitable.

Tatneft:
▪ profit plunged nearly threefold to 54.2 billion rubles ≈ $0.67 billion.

Russneft:
▪ profit fell 3.2 times 3.2 times - to 11.8 billion rubles ≈ $0.15 billion.

According to Rosstat, Russia's oil and gas sector lost 50.4% of its profits. 45% of companies ended the half-year with a loss.

In Khanty-Mansi Autonomous Okrug, which accounts for 40% of Russia's oil production, the oil industry became unprofitable.


>part 1