Net income of Rosneft reached RUB 81 bln in 1Q 2018, more than 7 times higher YoY
Rosneft says that net income attributable to its shareholders reached RUB 81 bln in 1Q 2018, more than 7 times higher YoY thanks to the operating income growth and lower FX items. According to the statement, decrease in the net income compared to the previous quarter is mainly caused by the recognition of the one-off income in 4Q 2017.
1Q 2018 revenue was up to RUB 1,722 bln (USD 30.9 bln), or by 0.8% QoQ, and by 22.1% to 1Q 2017, on the back of higher crude oil prices and optimization in sales channels despite the remaining constraints in production within the OPEC+ Agreement.
1Q 2018 EBITDA amounted to RUB 385 bln (USD 6.8 bln), remaining almost unchanged QoQ and rising by 15.6% to 1Q 2017.
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.
