Net income of Rosneft down 75% to RUB 14 bln in QI’2016

In the first quarter of 2016, net income of Rosneft calculated under IFRS totaled RUB 14 bln (-75%, year-on-year), the company says.

Rosneft’s revenue totaled RUB 1,048 bln ($14.5 bln), down 12.4%, year-on-year.

EBITDA – RUB 273 bln (-14.4%, year-on-year). 

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.