- Business
- PJSC Rosneft Oil Company PJSC Rosneft Oil Company (ROSN.IL) is Russia's leading vertically integrated oil and gas company, specializing in the exploration, production, refining, transportation, and marketing of petroleum, natural gas, and refined products. The company operates across all major Russian oil and gas regions, including West Siberia, East Siberia, the Far East, Timan-Pechora, Central Russia, the Southern Federal District, and offshore Arctic shelf areas; it maintains headquarters in Moscow, Russia, where it was founded in 1995. Rosneft's upstream segment encompasses extensive geological exploration, with 2024 discoveries including seven new fields and 97 hydrocarbon deposits adding 0.2 billion tons of oil equivalent in reserves (AB1C1+B2C2 category), alongside production of 184 million tons of liquids and 87.5 billion cubic meters of gas; key subsidiaries include RN-Yuganskneftegaz, Samotlorneftegaz, RN-Purneftegaz, and Vostsibneftegaz. Downstream operations feature 13 large refineries with 82.6 million tons of oil processed in 2024, three petrochemical plants, four gas processing plants, three catalyst production facilities producing over 2,000 tons of hydrotreatment catalysts, and a retail network of about 3,000 sites across 62 regions offering gasoline, diesel, compressed natural gas, and electric vehicle charging; additional services include bunkering, aircraft refueling, and sales via the St. Petersburg International Mercantile Exchange.
In recent developments, Rosneft secured a landmark 10-year supply agreement with Reliance Industries in late 2024, valued at approximately $13 billion annually, committing to deliver nearly 500,000 barrels per day of Russian crude grades and fuel oil to the Jamnagar refinery starting January 2025, with an option for a further decade. The company advanced its refining independence by fully transitioning to in-house catalysts since 2020, regenerating over 1,600 tons of diesel hydrotreatment catalysts in 2024, and expanded retail innovations like food trucks, pharmacies, and 82 electric charging stations. Rosneft also progressed its Vostok Oil flagship project encompassing 52 license areas in Krasnoyarsk Krai and Yamal-Nenets, while commissioning nine new associated petroleum gas utilization facilities to support environmental goals under the Rosneft-2030 strategy focused on operational leadership, efficiency, and sustainable development.