Rosneft posts 2002 financial results

The Russian oil company Rosneft's net profits amounted to RUR8.9bn (about $289.82m) in 2002, which is almost RUR1bn (nearly $32.56m) less than in 2001. These figures were approved by the Rosneft Board of Directors before the general annual meeting of the company's shareholders to be held on June 28, 2003.

Rosneft's 2002 pretax profit amounted to RUR12.7bn ($413.56m), down RUR300m ($9.77m) against 2001. The proceeds of the sale of goods and services came to RUR61.3bn ($1.99bn), which is 42 percent higher than in 2001.

Rosneft's share capital totals about RUR90.179m ($2.94m). All of the company's shares are owned by the Russian Property Relations Ministry.

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