- Rosneft (OTC:RNFTF) says it is working out a strategy for dealing with U.S. sanctions affecting the company, as it reported a nearly eightfold surge in Q2 net profit.
- "Together with our partners - the world's leading oil companies - we are working on a plan to minimize" the effects of the sanctions, the company says.
- Q2 profit of 171B rubles ($4.87B) beating analyst consensus for 156.7B rubles, and oil and gas sales rose 24% to 757B rubles, driving total revenue up 22% to 1.44T rubles.
- Oil production fell 1.4% Q/Q to 4.13M bbl/day, after the company failed to reach an agreement with oilfield services provider Eurasia Drilling, leading it to remove rigs; combined oil and gas output fell 0.9% Q/Q to 5M boe/day.
- Rosneft also says it received a $1.9B prepayment from BP in July for a long-term supply agreement of oil and products.
From other sites
at MarketWatch.com (Dec 22, 2014)
at CNBC.com (Dec 22, 2014)
at MarketWatch.com (Jul 18, 2014)
at MarketWatch.com (Jul 17, 2014)
at MarketWatch.com (Mar 3, 2014)
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