Rosneft is a Russian integrated energy company, headquartered in Moscow, and is the largest oil producer in Russia. It is a state-controlled entity, with the Russian government holding control through the Rosneftegaz holding company. The company was established as a state enterprise in 1993 by Government Decree No. 357 to manage the oil and gas assets that remained under state ownership after the privatization of the Soviet-era oil industry. It was later reorganized into an open joint-stock company in September 1995. Rosneft's rise to a global supermajor was cemented by acquiring assets of the former Yukos company and, in 2013, by acquiring OJSC TNK-BP, making it one of the world's largest publicly traded oil and gas companies.
The company's mechanism involves the entire hydrocarbon value chain, specializing in the exploration, extraction, production, refining, and sale of petroleum, natural gas, and petrochemicals. Rosneft controls roughly 40% of Russia's total oil output. For an Indian reader, Rosneft is highly relevant due to its deep ties with India, which it considers a "strategic partner". In 2017, Rosneft acquired Essar Oil for $12.9 billion, gaining access to India's fuel retail market and a refining network. The Indian government has also cited Russian President Vladimir Putin as saying Rosneft recently invested $20 billion in India. Furthermore, Rosneft is connected to the geopolitical concept of Western sanctions, as the United States and the European Union imposed sanctions on the company in October 2025 for operating in the Russian energy sector, a move that could affect its foreign trade. Recently, Rosneft reportedly signed a 10-year agreement to supply 500,000 barrels of crude oil per day to Indian private refiner Reliance.