Russian oil producers’ profits dived in the first half of the year, driven down by lower crude prices and a stronger ruble.
Rosneft PJSC, the state-controlled giant accounting for more than a third of Russia’s total oil production, reported 245 billion rubles ($3 billion) of net income in the first six months of the year, down by over 68% from the same period in 2024, the producer said in a statement on Saturday.