Profit of Rosneft rise as production up

By Alexa Steblinina. JSC Rosneft, Russia’s state-owned and largest oil-producer reported Wednesday that its 3Q earnings rose 80 percent to US$1.89 billion (EUR1.27 billion)

Photo: Profit of Rosneft rise as production up

Profit of Rosneft rise as production up

Oil production rose in the quarter because some of the production units were purchased by the company.

Overall production for the quarter was 192.35 million barrels.

JSC Rosneft, Russia’s state-owned and largest oil-producer reported Wednesday that its 3Q earnings rose 80 percent to US$1.89 billion (EUR1.27 billion)

Oil production rose in the quarter because some of the production units were purchased by the company.

Overall production for the quarter was 192.35 million barrels.

Rosneft is an integrated petroleum company owned by the Russian Government. Rosneft is headquartered in Moscow’s Balchug district near the Kremlin, across the Moskva river. Rosneft became Russia's leading extraction and refinement company after purchasing assets of former oil giant Yukos at state-run auctions.

Rosneft conducts oil and gas exploration and production activities on Sakhalin island, Siberia, Timan-Pechora Province and southern Russia, including Chechnya. It owns and operates two refineries. 

Rosneft operates shipping, pipeline and marketing companies. As of December 29, 2006, the company’s market value was US$83.908 billion.