Rosneft Oil Company 2Q Net Profit Leaps; Production +10%

Rosneft Oil Company (ROSN.MZ) Friday reported a near five-fold rise in second quarter net profit compared with the previous quarter, and said hydrocarbon production increased 10%.

The oil company that is majority owned by the Russian Government made a net profit for the quarter ended June 30 of 68 billion Russian Rubles ($1.1 billion) compared with RUB13 billion for the first quarter, on revenue that rose to RUB1,399 billion, from RUB1,410 billion.

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During the quarter Rosneft produced 5.70 million barrels of oil equivalent a day.

-Write to Ian Walker at; @IanWalk40289749

(END) Dow Jones Newswires

August 04, 2017 03:53 ET (07:53 GMT)