Rosneft gains from ExxonMobil exit

摘要

The collapse of Russian state-controlled Rosneft’s upstream joint ventures with ExxonMobil helped to boost the former’s proft by more than threefold on the year to Rbs228bn ($3.4bn) in the second quarter. Higher oil prices, rising output and a foreign exchange gain of Rbs72bn also contributed to the results. The acquisition of ExxonMobil’s stakes in the ventures, and their revaluation in light of higher oil prices, delivered a Rbs30bn one-of gain to Rosneft’s second- quarter proft. Crude prices dropped below $40/bl from above $100/bl when ExxonMobil joined the projects, stabilising above $70/bl only in April, after the US frm revealed its withdrawal plans. Crude prices were around 50pc higher on the year in April-June.