Rosneft Oil Company Pays a Record-Breaking Tax Amount for Russia in 2024

This includes 256 billion rubles in dividends paid. The total taxes and other payments made by Rosneft to the Russian Federation’s budget exceeded 6.1 trillion rubles, equivalent to 17% of the federal budget’s revenue. This payment is the considered to be the highest not only in the company’s but also in the history of entire Russian market. Thus, the Holding continues to maintain its status as the country’s largest taxpayer.

Commenting on the 2024 results, Rosneft’s Oil Company CEO Igor Sechin noted that, in the interest of shareholders and in full compliance with the dividend policy, the company paid interim dividends in February at a rate of 36.47 rubles per share. Rosneft has been consistently paying dividends since 1999. Over the past year, the number of its shareholders increased by nearly a third, reaching 1.5 million people.

Regarding other financial statistics, Rosneft’s Oil Company revenue in 2024 grew by 10.7%, reaching 10.1 trillion rubles. In terms of growth rates, the company outperformed most international oil and gas companies, including Shell (down 10.3% last year), Chevron (down 2%), Exxon (up 1.3%), Equinor (down 4%), and Total (down 9.6%).

Rosneft’s Oil Company profit before taxes and interest (EBITDA) in 2024 increased by 0.8%, reaching 3 trillion rubles. Capital expenditures rose by 11.2%, amounting to 1.4 trillion rubles.

Despite existing restrictions, the company’s liquid hydrocarbon production totaled 184 million tons, surpassing ExxonMobil, Shell, and Chevron. Gas production reached 87.5 billion cubic meters, solidifying Rosneft’s position as Russia’s largest independent producer of this fuel type.

The volume of oil refining amounted to 82.6 million tons. Over the year, the company sold 43.6 million tons of petroleum products on the domestic market, effectively doubling the volume of gasoline and diesel fuel sold on the St. Petersburg International Mercantile Exchange (SPIMEX).