* Rosneft reports Q2 profit after Q1 loss of 156 bln roubles
* Rosneft Q2 oil output down 13% from Q1 due to OPEC+ deal
* Rosneft's Sechin says expects financials to improve
* Rosneft sees 2021 capex at 1 trln rbls
* Rosneft's oil output up 6% in August
(Adds detail on production, capex)
MOSCOW, Aug 14 (Reuters) - Russia's largest oil producer
Rosneft made a second-quarter profit of 43 billion
roubles after reporting a loss in the previous three months
thanks to a rise in oil prices, it said on Friday.
Rosneft, headed by Igor Sechin, a long-standing ally of
President Vladimir Putin, is the first big Russian oil company
to report financial results for the second quarter, when oil
prices started to rebound after hitting a 21-year low in April.
The oil market, under pressure from overproduction and the
fallout from the coronavirus crisis, has been on a recovery path
thanks to a global deal between OPEC and other leading oil
producers, including Russia, to cut oil production.
The company, which accounts for more than 40% of Russia's
total oil output, said it produced 4.04 million barrels of oil
per day (bpd) in the second quarter, down 13% from the previous
quarter, due to the global output reduction deal.
Didier Casimiro, Rosneft's first vice president, told
investors on a call that the company had increased daily oil
production in early August by around 6% from July, in line with
the easing of output curbs by the OPEC+ group.
Rosneft expects the company's, and Russia's overall, oil
production to remain stable in August-December.
A company official also said Rosneft's capital expenditure
may increase to 1 trillion roubles in 2021 from a downwardly
revised 750 billion roubles in 2020.
BACK TO PROFIT
Rosneft gave a dollar figure of $700 million for its
April-June earnings, saying the conversion was calculated using
average monthly Central Bank of Russia exchange rates for the
reporting period.
The company, in which BP owns a 19.75% stake,
sustained a loss of 156 billion roubles ($2.13 billion) in the
first quarter, when the oil price fell by two-thirds.
"As prices for crude oil and refined products had improved,
our financial metrics demonstrated a positive dynamic in the
course of 2Q 2020. This provides us confidence that the
company's financial results will stage a recovery in the
upcoming periods," Sechin said in a statement.
In the second quarter of 2019, Rosneft had reported a net
profit of 194 billion roubles.
($1 = 73.3100 roubles)
(Reporting by Maria Kiselyova and Vladimir Soldatkin; Writing
by Alexander Marrow; Editing by Jan Harvey and Jane Merriman and
Kirsten Donovan)