Rosneft Q2 profit down

Russia’s Rosneft on Monday said its second-quarter net profit dropped by 33.6 percent as compared to the corresponding period a year ago.

Rosneft’s net income fell to 89 billion roubles ($1.38 billion) from 134 billion rubles a year earlier due to lower oil prices.

Revenue declined by 6.1 percent to 1.232 trillion roubles, according to Rosneft’s second quarter report.

Earnings before interest, taxes, depreciation and amortization were 348 billion rubles, a rise of 12 percent on year.

Worth mentioning, Rosneft has during the quarter delivered the first LNG cargo in its operational history. The spot cargo was delivered in May to Egyptian Natural Gas Holding Company (EGAS).

LNG World News Staff