Rosneft has received the highest credit rating from Expert RA

The Russian rating agency Expert RA has confirmed Rosneft's credit rating — the company has received the highest ruAAA rating with a stable outlook.

Experts noted Rosneft's strong market and competitive positions, high financial profitability of projects, low debt burden, as well as low corporate risks. The company's profitability in 2024 was 30%, despite commitments to reduce production under the OPEC+ agreement, as well as an increase in the tax burden.

At the same time, experts warn that in 2025, the profitability indicator may be affected by a continuing increase in the tax burden, as well as an increase in tariffs of natural monopolies ahead of inflation.

In March, Sergey Suverov, investment strategist at Arikapital, noted that the burden on the oil sector in general and on Rosneft in particular is quite high. "The overall level of fiscal and tariff burden is about 80% of the financial result, which is an unprecedented level of tax burden, much higher than that of other sectors of the Russian economy," the expert said.

Rosneft's highest rating has been maintained at this level since its assignment in July 2017, the company recalled.

By the end of 2024, Rosneft increased revenue by 2.7% to a record level of 10.1 trillion rubles, and EBITDA reached 3 billion rubles. The company's gas production amounted to 87.5 billion cubic meters, and liquid hydrocarbons — 184 million tons. This, Rosneft emphasized, is higher than the figures of such large international companies as ExxonMobil, Shell and Chevron.