Rosneft Posts YOY Income Decrease

Rosneft posted a net income of $5.3 billion in the nine month period ended September 30, which marked an 11.7 percent decrease from the $6 billion income registered during the same period last year.

The company’s revenues fell 43.6 percent year on year to $66.8 billion in 9M and its EBITDA dropped 39.3 percent to $15 billion. Due to the repayment of a substantial part of short-term debt, Rosneft’s gross debt decreased by 27.6 percent year on year in 9M 2015 to $47.5 billion.

Commenting the results for 9M 2015, I.I. Sechin, chairman of the Rosneft management board, commented in a company statement:

“Despite of challenging economic environment, the company keeps improving its efficiency…The company achieved a structural improvement in the credit profile, while the debt burden was reduced to the target level.”



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Doosan Babcock to Cut Almost 500 UK Jo... (Dec 7)
 -  Israel Approves Energean Purchase of K... (Dec 7)
 -  Faroe Completes Acquisition of DONG No... (Dec 7)
 -  Reports: Offshore Gas Worker Dies in N... (Dec 7)
 -  OGA Launches Supplementary Exploration... (Dec 6)


Most Popular Articles

From the Career Center
Jobs that may interest you
US Conroe: Accountant - Sr. Accountant
Expertise: Accounting|Financial Analyst
Location: Conroe, TX
 
Senior Accounting Analyst Job
Expertise: Accounting|Budget / Cost Control|Financial Analyst
Location: Minneapolis, MN
 
Compliance Analyst Job
Expertise: Accounting|Energy / Commodity Trading|Financial Analyst
Location: Denver, CO
 
search for more jobs

Natural Gas : $3.64/MMBtu 0.27%
Brent Crude Oil : $53.93/BBL 1.83%
Light Crude Oil : $50.93/BBL 1.66%
Updated in last 24 hours