Rosneft officials are worried that even a few more months of war in Ukraine could cause lasting damage to the company’s business, Bloomberg reported, citing sources. The company’s finances are deteriorating as profits fall and debt rises, Bloomberg sources said, despite expectations that the war in the Middle East would boost its profits. Rosneft has suffered significant damage from Ukrainian attacks on its oil refineries. The company operates 12 refineries representing about a third of Russia’s total refining capacity. By Bloomberg’s count, five of the 15 confirmed drone attacks on Russian refineries in September alone targeted Rosneft facilities that supply fuel to European Russia. The Ryazan refinery, which has been repeatedly attacked, is among the worst affected. The Syzran refinery has spent most of the last six months either closed completely or running at less than a third of its capacity. The Tuapse refinery has been closed since April. Bloomberg reported that Rosneft managed to restart some refineries within weeks of an attack, only to be attacked again once repairs were complete or nearly complete. The constant need for repairs is driving costs to levels that cannot be sustained in the long term, the outlet’s sources said. As a result, they said, some plants have deliberately delayed repairs, stretching out to weeks work that would normally take a few days. At Meduza, we are committed to transparency about our use of artificial intelligence in the newsroom. The story you are reading was written by one of our living journalists and translated from Russian using an artificial intelligence model configured to follow our strict editorial standards. This translation process is the result of extensive testing and improvement to ensure our English coverage is timely and accurate. A Meduza editor reviews each draft before publication. If you find any errors in this translation, please contact us at [email protected].To read exclusive Meduza content in English, subscribe to our newsletter.
