Category: Rosneft

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

The global oil industry continues to suffer from underinvestment, according to Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"Today, the global oil industry continues to suffer from underinvestment. Exploration spending is being cut particularly sharply," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.

According to him, this is one of the reasons why the organic reserve replacement rate for Western oil majors has been only around 40% over the past five years.

"At the same time, Rosneft consistently exceeds this figure thanks to its extensive resource base and the high efficiency of its geological exploration work," said Igor Sechin.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

The experience of the last 10 years has shown that attempts to displace Russia and China from the global market are doomed to failure, according to Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"Let me remind you that, like China, Russia has been under increasing external pressure for many years, the primary goal of which is to push our two countries out of the global market. The experience of the last 10 years has shown that these attempts are doomed to failure," he said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.

In this context, Igor Sechin also recalled the words spoken by the country's leadership on the first day of the Great Patriotic War, which are more relevant today than ever: "Our cause is just, the enemy will be defeated, victory will be ours!"

The head of Rosneft noted that in the coming years, the global economy will undergo profound and complex changes, the signs of which are already visible: rising debt, loss of trust in the established financial system, the search for alternatives, including gold, uneven population growth in developing countries, uncontrolled migration, and new sources of energy consumption growth, including data centers, which are shifting the balance and depriving consumers of affordable energy. "Deepening our strategic cooperation is the tool for countering these global challenges. Asymmetrical responses will be found," Sechin added.

In the final part of his report, he quoted a well-known Chinese proverb from the Book of Changes: “If people have a common soul, then their shared strength is so great that it can cut through the strongest metal and overcome any obstacle.”

Sechin also congratulated those present on the opening of the 7th Russian-Chinese Energy Business Forum and quoted a statement from the 27th Congress of the Communist Party of the Soviet Union in 1961: "Our goals are clear, our objectives are defined. Let's get to work, comrades!"

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

Continuing sanctions against Russia and China will bring about another economic crisis in Western countries, according to Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"The West's continued aggressive sanctions policy against both Russia and China will undoubtedly bring about another economic crisis in Western countries. Not all Western politicians realize the risks they face," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.

He recalled that local goals are being set today to strengthen sanctions in the energy sector, energy assets are being seized in international jurisdictions, and instead of achieving the stated goals, energy consumers in Western countries are already in a dramatic situation.

"The efficiency with which Russia and China supply their economies with electricity is the foundation of our development, our natural advantage. It is a fundamental factor in our competitiveness. Thanks to forward-looking energy policies, the cost of electricity for the industrial sector in our countries is currently more than half that of the US and three to four times lower than in some EU countries," Sechin said.

He noted that with the average market price of oil at $60 per barrel, an American car owner pays $3 per gallon of gasoline. Meanwhile, an electricity consumer in the US, with the current residential price of electricity at 18 cents per kilowatt-hour (i.e., more than $6 per gallon of gasoline), effectively pays $125 per barrel of oil equivalent.

Meanwhile, electricity prices are even higher in the European Union. In Germany and Italy, electricity costs of 40 cents per kilowatt-hour (for households) translate into $14 per gallon of gasoline, equivalent to $300 per barrel of oil equivalent. "Continued sanctions pressure can only lead to a significant increase in real prices," says Igor Sechin.

"The forecast is very realistic," he noted. "Such electricity costs will hinder the development of new projects, including data centers, make it virtually impossible to convert transport to electric traction, require increased budget expenditures to subsidize housing and utilities, and, ultimately, create the preconditions for a decline in economic potential and a sharp increase in household spending in Western countries."

In his opinion, deprived of access to Russia's competitive resource base and China's component platform, Western opponents could lose their technological and economic influence. This would create the preconditions for the risks of civilizational redistribution.

"As the outstanding Chinese strategist and thinker Sun Tzu said: 'Tactics without strategy is simply vanity before defeat,'" Sechin concluded.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

"Russia today is the only country in the world with expertise across the entire nuclear fuel cycle, from uranium mining to nuclear fuel disposal," said Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.

In developing its nuclear industry, China is relying on the latest technological advances from leading nuclear powers, including Russia. Russia has contributed to the construction of four power units at the Tianwan Nuclear Power Plant. Four more nuclear units are planned for completion in the next few years, at the Tianwan and Xudapu Nuclear Power Plants. Partnerships are also developing in the supply of raw materials and the production of fuel cells using Russian technology.

"Russia is also assisting China in implementing a project to build a fast-neutron reactor, which provides deeper fuel burnup and higher efficiency. Let me remind you that our country is the sole owner of this technology," Sechin noted.

Sechin also emphasized the economic benefits of joint projects. The cost of the most advanced Russian VVER-1200 reactor is half that of the American AP-1000.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

China is seeking to achieve independence from geopolitical instability by diversifying its energy balance, said Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Complex Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"The challenges facing China's economy are driving the need to diversify the country's energy balance, aimed at achieving independence from geopolitical instability and the associated risks," he said at the opening of the 7th Russian-Chinese Energy Business Forum (RCEBF) in Beijing.

He quoted Chinese President Xi Jinping's apt statement: "China needs to hold the energy rice bowl in its hands." Partnership in this area is a priority for Russia and China, Sechin added.

Today, the coal sector is experiencing a second wind. "Last year, China issued permits for the construction of approximately 100 gigawatts of new coal-fired generation. Unlike many Western countries, China understands well that alternative energy can only complement traditional energy, not replace it," said the executive secretary of the Fuel and Energy Commission. Meanwhile, Russia accounts for more than a quarter of China's coal imports.

Cooperation between the two countries in the gas sector is also developing dynamically – Russia’s share of supplies to China amounts to more than 20%.

Today, China has also become a recognized global leader in renewable energy. In recent years, the country has commissioned the largest volume of new capacity and accounts for over 70% of the global production of equipment for the green economy.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

The economic benefit for China from Russian oil supplies starting in 2022 will be approximately $20 billion, according to Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"Thanks to the higher efficiency of purchasing Russian oil compared to the Middle Eastern alternative, the total economic benefit for China starting in 2022, according to our estimates, is approximately $20 billion," Sechin said at the opening of the 7th Russian-Chinese Energy Business Forum (RCEBF) in Beijing.

According to him, Russian energy supplies are a crucial support factor in China achieving its strategic goals. Over the past 10 years, Igor Sechin noted, thanks to a timely shift to the East, Russia has become China's number one oil supplier, with a share of approximately 20%.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

The total value of Russia's natural resources is nearly $100 trillion, which is almost twice the value of the United States, said Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Complex Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"Russia, with its unique resource base, can guarantee energy security for all of Eurasia. The total value of our country's natural resources is nearly $100 trillion, almost twice that of the United States," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.

He noted that Russia is a key player in the global energy market: its share of global hydrocarbon exports is approximately 15%.

"Here, our cooperation is fully consistent with the principle formulated by Chinese President Xi Jinping: 'Security is a prerequisite for development, and development is a guarantee of security,'" Sechin said at the opening of the 7th Russian-Chinese Energy Business Forum (RCEBF) in Beijing.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

China is shaping a new global energy landscape, one that represents a synthesis of traditional and alternative energy sources, said Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Complex Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"Today, China is a great energy power, shaping a new image of the global energy sector. The country is moving at breakneck speed toward building a new type of energy system, a synthesis of traditional and alternative sources," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.

According to him, the West has followed the path of the well-known German philosopher Jacob Boehme, who preached a magical method for achieving results: “As we say among our people, ‘by the pike’s command, by my will’ or ‘with God’s help’.”

He noted that China's electricity generation is more than twice that of the United States, while 20 years ago, the situation was exactly the opposite. China accounts for a third of global investment in the energy sector, Sechin emphasized. This year, investment is expected to reach approximately $900 billion, 30% more than the entire North American investment and more than 1.5 times that of Europe.

According to the head of Rosneft, advanced technological development and the unprecedented pace of electrification have made China the world's leading energy consumer. "Such energy needs require a special approach to energy security," Sechin concluded.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

China is today the only industrial superpower, noted Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Complex Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"Providing 35% of global industrial production, China is essentially the only industrial superpower today," he said during his speech at the opening ceremony of the 7th Russian-Chinese Energy Business Forum.

Sechin explained that American manufacturing companies' dependence on Chinese components is now three times greater than Chinese companies' dependence on the United States. "But just twenty years ago, it was the other way around," the Rosneft CEO emphasized.

This is the result of the Chinese leadership's consistent and far-sighted policies: one of the key objectives of China's 15th Five-Year Plan is to create the conditions for building a "socialist modern power" by 2035, which entails doubling its GDP. This allows for the simultaneous benefits of both a planned and a market economy. "Thanks to this synergistic effect, China can maintain accelerated economic growth rates of approximately 5% per year. Clearly, such a development trajectory will require further growth in energy consumption," Sechin explained.

He named the development of “productive forces of new quality” as another important priority for China over the next five years, which should be accompanied by the formation of “emerging industries and industries of the future.”

The head of Rosneft noted: "China has already become a global leader in scientific publications in many technological fields. In terms of quantity, the country outstrips both the US and the EU. Furthermore, China ranks first in the world in the number of active patents for inventions."

Eight Chinese universities are among the top ten globally in the prestigious Leiden Ranking, which evaluates universities based on the quantity and quality of their scientific publications. "These achievements are driven by a colossal increase in investment in research and development. Today, the volume of R&D funding in China exceeds the combined total of all EU countries," concluded Igor Sechin.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federation –

Source: Rosneft – An important disclaimer is at the bottom of this article.

The dollar's position as a means of payment is weakened by its use as a sanctions weapon, noted Igor Sechin, Executive Secretary of the Presidential Commission on Fuel and Energy Sector Development Strategy and Chief Executive Officer of Rosneft Oil Company.

"The dollar's position is weakening not only as a means of payment but also as a global reserve currency. This is being facilitated by the dollar's use as a sanctions weapon," Sechin said at the opening of the 7th Russia-China Energy Business Forum (RCEBF) in Beijing.

According to him, the conditions are being created for the use of alternative instruments, such as gold, the price of which typically rises ahead of global crises. "It is gold that is currently replacing US Treasury bonds, which are gradually losing their 'safe haven' status," Igor Sechin concluded.

Department of Information and Advertising of PJSC NK RosneftNovember 25, 2025

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.