14:03 GMT +315 December 2019
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    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

    Rosneft Remains Financially Stable Despite Low Oil Prices

    © Sputnik / Evgeny Biyatov
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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.

    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.

    Tags:
    Oil, economy, oil prices, Rosneft, Russia
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