Rosneft admits losses from Ukraine's refinery strikes becoming unsustainable, Bloomberg reports
Officials at Rosneft have privately voiced concerns that even a few more months of Ukraine's continued attacks could lead to lasting damage for the company.
Russia's state-owned oil company Rosneft is grappling with mounting financial difficulties due to ongoing Ukrainian strikes on its oil refineries, Bloomberg reported on October 22. Insider sources and expert analysts suggest this could lead to long-term damage for the company. The Ryazan Oil Refinery, one of Rosneft's largest facilities, was forced to halt operations following a Ukrainian drone attack, raising concerns that even more months of strikes could inflict lasting harm.
Rosneft's 12 refineries make up about one-third of Russia's total refining capacity, with five of the 15 strikes in September 2026 specifically targeting these plants that supply western Russia. The Ryazan refinery has been offline for over half the time since its May 2026 attack, and its output has fallen drastically, severely impacting Moscow's fuel supply.
Other major refineries like Syzran and Tuapse have also suffered significant disruptions, with Tuapse being shut down since April. Despite a temporary ceasefire proposed by U.S. President Donald Trump in October, Ukraine resumed strikes shortly after realizing Russia wouldn't comply. This constant barrage of attacks has led to escalating repair costs that Rosneft officials deem unsustainable, with the company's net income dropping nearly 20% in the first half of 2026 to 200 billion rubles.
Its debt-to-earnings ratio has also surged to its highest level in over five years, signaling serious financial strain.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
