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19

Rosneft: Good Results

Net income of Rosneft more than doubled last year, proven oil reserves increased almost fourfold

Net income of state-run oil firm Rosneft more than doubled last year due to record oil prices and some assets being sold, the company said.

The net income rose to $837 million from $386 million, revenue rose 45 percent to $5.28 billion, including asset sales totaling $240 million, from $3.6 billion last year.

Rosneft?s proven oil reserves increased almost fourfold to 1.27 billion tons from 327.7 million tons last year, after the company bought Yuganskneftegaz.