Russia's Rosneft reports 13% rise in half-year net profit

By Firdevs Yuksel

ISTANBUL (AA) - Russia's oil giant Rosneft posted a 13% rise in its half-year net profit compared to the same period last year, the company reported in its financial results statement released on Thursday.

The company's net income reached 432 billion rubles (around $7.2 billion) between January and June this year.

According to the company, Rosneft's oil exports decreased by 5.7% during the same period compared to the last year.

Hydrocarbon production of Rosneft, one of the largest oil companies in the world in terms of oil production volume, stood at 4.85 million barrels of oil equivalent per day in the first half of the year, marking a 1.5% rise relative to the same period of 2021.

"In 1H 2022, Rosneft was under an unprecedented pressure of adverse external factors and unlawful sanctions," Rosneft's Chairman and CEO Igor Sechin was quoted as saying in the statement.

"Thanks to high operational efficiency and appropriate management decisions, the company was able to ensure business continuity and demonstrate stable results," he said.