Arab Today, arab today russias rosneft first quarter profits leap 30
Last Updated : GMT 13:21:39
Arab Today, arab today
Arab Today, arab today

Russia's Rosneft first quarter profits leap 30%

Arab Today, arab today

Arab Today, arab today Russia's Rosneft first quarter profits leap 30%

The Kremlin is reflected in Rosneft's company
Moscow - AFP

Russia's oil giant Rosneft said Friday its net profit rose by 30.2 percent in the first quarter from the same period last year to 56 billion rubles ($1 billion).

The results were adjusted however as the company revised its 2014 first-quarter income down from 88 to 43 billion rubles to exclude the exceptional profit from its sale of a stake in Yugragazpererabotka, a gas processing joint venture with Sibur.

Sales were down 6.3 percent to 1,288 billion ($23.9 billion) and operating profit as measured by earnings before interest, taxes, depreciation and amortisation decreased by 8.3 percent to 265 billion rubles.

Rosneft said that the first quarter was characterised by the "drastically adverse influence of macroeconomic factors" including a dramatic drop in the price of oil that was not sufficiently compensated by the weaker ruble.

Rosneft also lamented the "increase in tariffs" by the government for pipeline and railway transport, as well as the increase of the key interest rate by the central bank.

Production of hydrocarbons was up 2.1 percent from the first quarter of 2014 and amounted to 5.2 million barrels per day, the company said. It was unchanged

Rosneft chairman Igor Sechin said that the company has "demonstrated stability" despite "unfavourable factors for the industry."

"The company continues to efficiently manage operating costs and generate positive free cash flow," he added in the statement, reporting that operating costs went down by 3.1 percent since the previous quarter.

Rosneft has been hit with Western sanctions over Ukraine and is blacklisted by both the United States and the European Union.

Rosneft is majority-owned by the Russian government, which holds about 70 percent, with another 20 percent held by British giant BP.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russias rosneft first quarter profits leap 30 Arab Today, arab today russias rosneft first quarter profits leap 30

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russias rosneft first quarter profits leap 30 Arab Today, arab today russias rosneft first quarter profits leap 30

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday