Rosneft Struggles To Grow As Sanctions Hit Russia's Oil Champion
by Reuters
|
Katya Golubkova, Soldatkin & Dmitry Zhdannikov Tuesday, September 09, 2014 | 1:57 AM EST
Rosneft plans to launch 10 new fields by 2020 in a bid to increase its combined oil and gas output by a third to 6.4 million barrels of oil equivalent per day. That plan looks set to be severely tested.
"Rosneft has a lot of cash. Its problems are long-term and strategic," said a source at a Western bank that includes Rosneft among its clients. "Its growth model is challenged."
(Reporting by Dmitry Zhdannikov; Editing by Sophie Walker)
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