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Russia's Rosneft Oil Sales Increase 5.7% H1 y-o-y

OIL

Russia’s largest oil producer, Rosneft, saw H1 net income jump 13% y-o-y, pushed by higher oil prices despite selling abroad at a discount.

  • "In 1H 2022, Rosneft was under an unprecedented pressure of adverse external factors and unlawful sanctions," Chief Executive Officer Igor Sechin said in a statement.
  • "However, thanks to high operational efficiency and appropriate management decisions, we were able to ensure business continuity and demonstrate stable results."
  • The company said first-half hydrocarbon production reached 4.85 million barrels of oil equivalent per day, a 1.5% increase from the year-earlier period.
  • It also said oil sales in the January - June period increased by 5.7% year on year.
Energy BulletsCommodities
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