Russia�s Rosneft reports Q1 profit rise of 30pc

AFP, MOSCOW: Russia’s oil giant Rosneft said on Friday its net profit rose by 30.2 per cent in the first quarter from the same period last year to 56 billion rubles ($1 billion).
The results were adjusted however as the company revised its 2014 first-quarter income down from 88 to 43 billion rubles to exclude the exceptional profit from its sale of a stake in Yugragazpererabotka, a gas processing joint venture with Sibur.
Sales were down 6.3 per cent to 1,288 billion ($23.9 billion) and operating profit as measured by earnings before interest, taxes, depreciation and amortisation decreased by 8.3 per cent to 265 billion rubles.

Russia�s Rosneft reports Q1 profit rise of 30pc

AFP, MOSCOW: Russias oil giant Rosneft said on Friday its net profit rose by 30.2 per cent in the first quarter from the same period last year to 56 billion rubles ($1 billion). The results were adjusted however as the company revised its 2014 first-quarter income down from 88 to 43 billion rubles to exclude the exceptional profit from its sale of a stake in Yugragazpererabotka, a gas processing joint venture with Sibur. Sales were down 6.3 per cent to 1,288 billion ($23.9 billion) and operating profit as measured by earnings before interest, taxes, depreciation and amortisation decreased by 8.3 per cent to 265 billion rubles.