Russia's Bashneft Says Q3 Net Profit Down 68% Quarter on Quarter

Reuters

MOSCOW, Nov 11 (Reuters) - Third-quarter net income of Russia's mid-sized oil producer Bashneft declined 68 percent quarter-on-quarter to 4.8 billion roubles ($73.6 million) amid weak oil prices, the company said on Friday.

Russia's largest oil producer Rosneft has acquired the controlling stake in Bashneft in October.

Sales rose by 14 percent in quarterly terms to 161.9 billion roubles, while core earnings - before interest, taxation, depreciation and amortisation (EBITDA) - declined by 16 percent to 28 billion roubles.

(Reporting by Olesya Astakhova and Vladimir Soldatkin; editing by Polina Devitt)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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