Rosneft Profits Drop 20% as Debt Hits Five-Year High Amid Disruptions

Key Facts

1Rosneft's net profit fell by nearly 20% to 200 billion rubles ($2.4 billion) in the first half of the year.

2Rosneft's net debt to EBITDA ratio rose to 1.8 by the end of June, its highest level in over five years.

Rosneft's net profit fell by nearly 20% to 200 billion rubles ($2.4 billion) in the first half of the year. Bloomberg reported that the company's net debt to EBITDA ratio rose to 1.8 by the end of June, marking its highest level in over five years.

Operational efficiency has been hampered by drone attacks on Russian refineries, with five strikes in September specifically targeting Rosneft facilities. Bloomberg noted that the Tuapse refinery has been out of operation since April, while the Syzran facility is operating at less than one-third capacity as Western sanctions continue to limit access to essential spare parts.