-
Rosneft Profits Jump 47% on Higher Gas Production
Russia's biggest oil producer, state-controlled Rosneft, posted improved 2023 financial results despite the sanction measures taken by the US, Europe and others to limit Moscow's ability to sell its crude. Net profit attributable to Rosneft's shareholders jumped by 47.2% to 1.267 trillion rubles ($15.5 billion under the current exchange rate) while its adjusted free cash flow increased by 44.3% to 1.427 trillion rubles. Rosneft is one of the few Russian companies that continue to release some financial figures under international accounting standards. Russia's financial regulators have allowed Russian companies to ... (full story)