Tatneft’s net profit under Russian Accounting Standards (RAS) dropped by 45.5% year-over-year in the first quarter of 2025, falling to 37.29 billion rubles, according to the company’s financial disclosures. This represents a 1.8-fold decrease compared to the same period last year. Quarterly revenue declined by 5.4% to 361.44 billion rubles, while the cost of sales

Russia’s economic stability faces mounting challenges as oil prices plummet to levels far below the government’s budgetary expectations. As of May 2, 2025, the average price for Russia’s Urals and ESPO oil blends has dropped to $48.92 per barrel, or 3,987 roubles, marking a two-year low and standing over 40% beneath the 6,726 roubles per