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.
Continue Reading Below
During the quarter Rosneft produced 5.70 million barrels of oil equivalent a day.
-Write to Ian Walker at firstname.lastname@example.org; @IanWalk40289749
(END) Dow Jones Newswires
August 04, 2017 03:53 ET (07:53 GMT)