Rosneft Remains Financially Stable Despite Low Oil Prices

© Sputnik / Evgeny Biyatov / Go to the photo bankA worker of RN-Purneftegaz, a daughter company of Rosneft, is seen here at the boosting compressor station of the Kharampur gas field, Yamal Nenets Autonomous Area
A worker of RN-Purneftegaz, a daughter company of Rosneft, is seen here at the boosting compressor station of the Kharampur gas field, Yamal Nenets Autonomous Area - Sputnik International
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Russia’s largest oil company Rosneft remains a financially stable performer despite the low oil prices, said BP CEO Bob Dudley, whose company owns a 19.75 percent stake in the Russian giant

MOSCOW (Sputnik) — "Rosneft, in which we have a 19.75 percent stake, is posting good performance and financial stability in a complicated market environment," Dudley said in a conference call.

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He said the global oil market remained affected by the basic factors that caused the 2015 oil price slump, and that volatile oil prices might persist in the short-term.

BP estimates Rosneft’s profit share in the fourth quarter of 2015 at $235 million, as compared to $451 million in 2014. Its 2015 profits totaled $1.3 billion, a far cry from the $2.1 billion it posted in 2014.

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