rusnigeria can't into energy: > results of the year: falling profitability of the energy sector > reduced profitability is one of the key trends in the russian energy sector in 2024. > this trend was most noticeable in the coal industry, which, de facto, became unprofitable: if, according to the results of the first 10 months of 2023, the balance of profits and losses of russian coal mining enterprises amounted to 403 billion rubles, then for the same period in 2024, the net loss of the industry reached 85 billion rubles. > a whole group of reasons led to the losses: the fall in world prices and sanctioned discounts on russian coal, which made it more difficult for exporters to cover logistics costs; the decision of chinese regulators to introduce import duties on thermal (6%) and coking (3%) coal from 2024; inclusion of a number of russian companies - such as suek, mechel, sibanthracite, elga, colestar, sds-ugol and stroyservis - in the sdn list, which is why steel supplies from the russian federation were cut off even those importers which continued to purchase russian coal after 2022. > russian refineries also faced losses: the balance of profits and losses of petroleum product producers in the first 10 months of 2024 decreased by 21% (to 2,216 billion rubles). here, a key role was played by breakdowns and damage to the refinery infrastructure, which is difficult to repair due to sanctions on the supply of equipment for oil refining. the timing of unscheduled repairs becomes unpredictable, resulting in a reduction in the output of petroleum products, which leads to financial losses for oil workers. 1/2
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