What caused Rosneft's Q1 net income to jump sevenfold, and what major risk did the company warn could impair its assets?

Rosneft's Q1 net income jumped sevenfold to 115 billion roubles ($1.60 billion) from 16 billion roubles in the previous quarter due to a rally in global oil prices, foreign exchange moves, and unspecified one-off factors. However, the company warned that ongoing drone attacks by Ukraine on its infrastructure—including refineries, depots, and production facilities—may lead to asset impairments and weaken its reported profit.

How did Rosneft's oil and gas output and revenue change in Q1 compared to the previous quarter, and what reason did it give for the production decline?

Rosneft's oil and gas condensate output edged down by 0.4% to 3.74 million barrels per day in Q1 compared to the previous quarter, attributed to harsh weather in Siberia—the company's production heartland. Meanwhile, its Q1 revenue rose by 4.3% to 2.032 trillion roubles from the prior three months.

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Rosneft's Q1 income jumps but company warns attacks may impair assets

Jun 1, 2026

Russia's Rosneft saw Q1 net earnings jump sevenfold to 115 billion roubles driven by high oil prices, though CEO Igor Sechin warned drone attacks on infrastructure could lead to asset impairments. Production output dipped 0.4% due to harsh weather while revenue rose 4.3%.

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