Russia's Rosneft Says Q1 Net Profit Down 75%, Misses Estimates

Reuters

MOSCOW, June 8 (Reuters) - Rosneft, Russia's largest oil producer, said on Wednesday its first-quarter net profit declined by 75 percent, year-on-year, to 14 billion roubles ($216.8 million) following a drop in global oil prices, missing expectations.

Analysts, polled by Reuters, forecast the net income at 33 billion roubles.

Sales declined by 21 percent to 1.05 trillion roubles, while earnings before interest, taxation, depreciation and amortization, a gauge of operating profit known as EBITDA, decreased by 14.4 percent to 273 billion roubles.

Net debt fell by 45 percent to $23.9 billion.

(Reporting by Olesya Astakhova and Vladimir Soldatkin; Editing by Maria Kiselyova)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Project Cost Controls Specialist
Expertise: Cost Engineer|Project Controls
Location: 52723
 
Logistics Coordinator
Expertise: Budget / Cost Control|Estimating|Supply Chain Management
Location: Tupman, CA
 
Accounts Payable Manager
Expertise: Accounting|Financial Analyst|Payroll
Location: KCMO, MO
 
search for more jobs

Brent Crude Oil : $45.89/BBL 3.69%
Light Crude Oil : $44.48/BBL 3.97%
Natural Gas : $2.96/MMBtu 1.00%
Updated in last 24 hours