Rosneft is the largest company in Russia in terms of oil production, with 2024 hydrocarbon production of 255.9 million tons of oil equivalent including 184 million tons of liquids. As the largest independent gas producer in Russia, the company produced 87.5 bcm of gas in 2024. The company's flagship Vostok Oil project in the Russian Arctic is advancing with pilot production already begun at key fields, marking early milestones in one of the country's most ambitious energy developments.
Cyborg Score Rationale
The company is controlled by the Russian government through the Rosneftegaz holding company, creating significant geopolitical risks and sanctions exposure. While operationally strong with diversified assets and strong Arctic development, ongoing Western sanctions and structural market challenges create material headwinds.
Top Insights
Rosneft is the Russian refining industry leader, processing 82.6 million tons of oil in 2024
The company's refining and petrochemical block includes 13 large refineries, three petrochemical plants, four gas processing plants, and three catalyst production plants
Rosneft plans to commission the first stage of its Vostok Oil project in 2026, which the company expects to produce up to 2.0 million barrels per day by 2030
In October 2025, the U.S. sanctioned Rosneft as one of Russia's two largest oil companies
Named Competitors
Lukoil — Russia's second-largest integrated oil and gas company
Gazprom — State-controlled Russian natural gas and oil company
ExxonMobil — International supermajor with Russia energy operations
Saudi Aramco — Global oil and energy production competitor
Recent Developments
(January 2026) Continued implementation of Rosneft-2030 strategy with focus on production targets of 330 million tons of oil equivalent
(October 2025) U.S. Department of Treasury designated Rosneft with additional sanctions targeting Russia's energy sector
(December 2024) Vostok Oil project advanced with Arctic infrastructure development and pipeline construction progressing
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