Rosneft’s net profit in the first half of the year increased by 45%, to 652 billion rubles.
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Rosneft’s revenue under IFRS in the first half of the year amounted to 3.86 trillion rubles. — 25.3% lower year-on-year. During the reporting period, the company received 652 billion rubles. net profit (45% more than in the first half of 2022), according to its press release.
The company explained the decline in revenue “primarily by a significant decline in oil prices.” Rosneft’s EBITDA amounted to 1.401 trillion rubles. – 5.1% less than in the same period last year. “Better performance in EBITDA compared to revenue is due to higher sales volumes eastbound, improved export profitability and cost control,” the press release explains. Free cash flow increased by 21.9% year-on-year to RUB 434 billion.
Production of liquid hydrocarbons by the company in the first half of the year amounted to 4 million barrels per day. Against the backdrop of restrictions on oil production in the Russian Federation in the second quarter, the production of liquid hydrocarbons decreased by 2.2%, to 3.9 million bpd, the report says. Gas production in the first half of the year increased by 31.8% to 1.5 million boe. per day.
As Kommersant learned in August, the head of Rosneft, Igor Sechin, proposed canceling the approved priorities for the export of coal from four regions to the east and clearing the way for high value-added products, primarily for oil products. Noting the decline in their export to the east, the top manager is in favor of introducing a priority for the products of domestic refineries.
Details – in the material “Kommersant” “Fuel divides the way”.
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