Rosneft reports 9-pct increase of its 1H 2019 net income to RUB 325 bln
In 1H 2019 net income attributable to Rosneft shareholders jumped by 9% YoY to RUB 325 bln, including by 1.5 times QoQ to RUB 194 bln, the company says in a press release.
1H 2019 revenues increased by 11.2% YoY in RUB terms mainly due to higher volumes of crude oil and petroleum product deliveries (+6.5%) as well as crude oil price growth in RUB terms (+4.8%). An additional factor of revenue growth was the increase in equity share in profits of associates and joint ventures.
EBITDA grew by 11.9% to RUB 1.063 trillion.
Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. Rosneft activities include hydrocarbon exploration and production, upstream offshore projects, hydrocarbon refining, and crude oil, gas and product marketing in Russia and abroad.