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UPDATE 1-Rosneft annual net income jumps to record $11.7 bln

Fri, 11th Feb 2022 07:33

(Adds detail, output data, share price)

MOSCOW, Feb 11 (Reuters) - Russian energy giant Rosneft
on Friday reported a six-fold jump in net income last
year to a record 883 billion roubles ($11.7 billion) as demand
recovered from pandemic-hit levels the previous year.

This was still below forecasts of more than 1 trillion
roubles from some analysts. Rosneft shares were down 0.5% to
566.65 roubles in early trade in Moscow.

Rosneft, in which BP owns a 19.75% stake, said net
income had recovered after an 80% fall in 2020.

It revised its 2020 tally to 132 billion roubles from an
initially reported 147 billion.

The company, which accounts for around 40% of Russia's oil
production, said its average oil and gas condensate output rose
by 2.3% to 3.91 million barrels per day last year.

($1 = 75.2441 roubles)
(Reporting by Vladimir Soldatkin, Olesya Astakhova and Maria
Kiselyova; editing by David Goodman and Jason Neely)

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