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Rosneft Oil Company's (RNFTF) Management on Q2 2018 Results - Earnings Call Transcript

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Rosneft Oil Company (OTC:RNFTF) Q2 2018 Earnings Conference Call August 7, 2018 9:00 AM ET


Pavel Fedorov – Vice President

Eric Liron – First Vice President of Rosneft

Didier Casimiro – Vice President for Refining, Petrochemical, Commerce and Logistics, Rosneft


Karen Kostanian – Bank of America Merrill Lynch

Ron Smith – City

Alexander Kornilov – Aton


Welcome, ladies and gentlemen, to the Rosneft Q2 IFRS Results 2018 Conference Call. I’ll now hand over to the management team to begin.

Pavel Fedorov

Good evening, dear ladies and gentlemen. At our today’s teleconference dedicated to the Rosneft’s performance results over the H1, we will share with you our main performance results. We’ll respond to your questions. My name is Pavel Fedorov. Together with me, we have Eric Liron, who is the First Vice President, in-charge of the E&P; Didier Casimiro, the Vice President, who’s in-charge of Refining, Petrochemicals, the Commercial work and Logistics; and other top managers.

Let me draw your attention to the presentation, contains as is usually the case, information about the future events and outlooks. So we are offering all of the usual liabilities and restrictions. In Q2 this year, there was a relatively favorable pricing environment in terms of the global refined products and oil. The ruble exchange rate over the same period went down, which led to the growing oil price for Brent oil by over 20% to the level of RUB 4,600 per barrel.

Potentially, this kind of an environment will last for short period of time. And so we will be watching over the way the market may evolve over the next two months, bearing in mind a number of external Northern market factors, which usually influence the price, the NMEX. Visitation in the domestic market in the Russian Federation remains tense against the price discounts in the

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