Rosneft's result hit hard by low oil price

State-owned Russian oil giant Rosneft is struggling with the low oil price. The company suffered major setbacks on revenue as well as profit.
Photo: Gazprom
Photo: Gazprom
BY SØREN SPRINGBORG, ENERGIWATCH

Even though the company enjoys a virtual state monopoly, Rosneft is unable to dodge the consequences of the sliding oil price on the global market. The company has published its second quarter interim report today, Tuesday, noting a massive decline in profits.

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