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Russian oil giant Rosneft fears just a few more months of war in Ukraine could inflict lasting damage on its business, Bloomberg reports
Meduza • • world
Key Points:
- Rosneft officials are worried that prolonged conflict in Ukraine could cause lasting harm to the company’s business, as profits decline and debt increases despite expectations of gains from the Middle East war.
- The company’s 12 refineries, representing about one-third of Russia’s refining capacity, have been heavily targeted by Ukrainian drone strikes, with five out of 15 confirmed attacks in September hitting Rosneft facilities.
- Key refineries such as Ryazan, Syzran, and Tuapse have faced repeated attacks, shutdowns, or severely reduced operations, significantly impacting production.
- Rosneft has been able to restart some refineries shortly after attacks, but recurring strikes have led to unsustainable repair costs and operational challenges.
- To manage these difficulties, some refineries have intentionally extended repair times, turning what should be quick fixes into longer periods of downtime.
