Rosneft Boosts Output in First Half of 2026
Rosneft reported increased hydrocarbon production in the first half of 2026, with oil and gas output rising compared to the same period in 2025, while the Ministry of Natural Resources expects full replenishment of oil and gas reserves by the end of 2026.
Consensus
- Rosneft's hydrocarbon production in January–June 2026 reached 124.6 million tons.
- Oil production in the first half of 2025 was 89.3 million tons, and in 2026 it rose to 89.8 million tons.
- Gas production increased from 39.3 billion cubic meters in 2025 to 42.28 billion cubic meters in 2026.
- The growth in oil production was attributed to increased offshore drilling, completion of repairs, and easing of production restrictions.
- The growth in gas production was due to new projects in the Yamalo-Nenets Autonomous Okrug.
- Over 1.3 thousand new wells were brought into operation, with 76% being horizontal.
- The depth of oil refining was 76.2%, and light oil product output was 60.2%.
- Rosneft supplied fuel to the domestic market at stable prices despite constraints.
- The Ministry of Natural Resources expects full replenishment of industrial reserves of oil and gas by the end of 2026.
- Industrial reserves of oil and condensate increased by 45 million tons in the first half of 2026.
- Industrial reserves of gas increased by 155.5 billion cubic meters in the first half of 2026.
- Russia's oil and condensate production in 2025 decreased by 0.9% compared to 2024, reaching 511.5 million tons.
Points of divergence
- The volume of oil refining in the first half of 2026 was 35.5 million tons, down from 38.7 million tons in the same period of 2025. — interfax
- Rosneft conducted 1.7 thousand km of 2D seismic work and 0.6 thousand sq km of 3D seismic work on land in Russia during the reporting period. — interfax
- Five exploration wells were tested, with an 80% success rate. — interfax
- The Ministry of Natural Resources forecasts that oil and gas reserves will be fully restored by the end of 2026. — kommerant
- The Ministry of Natural Resources expects full reserve replenishment in 2026. — m24
- The Ministry of Economic Development forecasts oil production in 2026 will remain at around 511 million tons, with growth to 516 million tons in 2027 and 525 million tons in 2028–2029. — kommerant
- The Ministry of Economic Development forecasts gas production will rise to 680.2 billion cubic meters in 2026. — kommerant
- Sinopec increased purchases of Russian oil to compensate for reduced Middle Eastern supplies, acquiring 30–40 batches of ESPO crude, equivalent to 241–320 thousand barrels per day. — m24
Coverage (8 sources)
- Rosneft reported on hydrocarbon extraction results in the first half of 2026 — Вести
- "Rosneft" in the first half of the year extracted 89.8 million tons of oil and 42.3 billion cubic meters of gas — Интерфакс
- Russia increased production of sunflower oil by 5.9% in January-July — Интерфакс
- Gas extraction in Russia in July grew by 1% - to 47.8 billion cubic meters — Интерфакс
- Production of LNG in Russia in July increased by 14.2% - to 2.3 million tons — Интерфакс
- Ministry of Natural Resources forecasts replenishment of oil and gas reserves in 2026 — Коммерсантъ
- Rosnefta reported increase in oil and gas reserves in the first half of the year — Вести
- Ministry of Natural Resources expects full replenishment of Russia's oil and gas reserves by 2026 — Москва 24
Key entities
- Russia
- Moscow
- INTERFAX.RU
- Rosneft
- Ministry of Natural Resources
- Rosstat
- Alexandr Kozlov
- Rosnedra
- Oleg Kazanov
- Gazprom
- Interfax
- TASS
- RIA Novosti
- Rosneft
- World Economic Forum
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