Rosneft Profit Suffers From Pipeline Incident, Weaker Oil

Rosneft PJSC’s second-quarter net income fell as the Russian giant suffered the effects of weaker oil prices and production cuts, but the decline was less severe than analysts expected.

While the results show the impact on Rosneft of the Druzhba crisis, in which millions of barrels of exports to central Europe via the Soviet-era pipeline were contaminated with chemicals, shares rose as investors eyed the company’s pledged payout.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.