Rosneft's debt again exceeded 2 trillion rubles

The net debt of Rosneft by the end of the first half of the year amounted to 2.2 trillion rubles. This is stated in the company's report.

“According to the results of the first half of 2017, the company retains a comfortable debt level and a significant supply of affordable liquidity,” the report says.

According to the results of the first quarter of 2017, Rosneft's debt amounted to 1.96 trillion rubles.

In 2016, by the end of the first half of the year, the company's debt amounted to 1.5 trillion rubles, while by the end of the year the amount of debt increased to 1.89 trillion rubles.

In the first six months of 2017, the net profit of Rosneft decreased by 19.8% (to 81 billion) rubles compared to the same period in 2016. The IFRS EBITDA indicator in the first half of the year increased by 2.9%, to 639 billion rubles. Rosneft revenue in six months increased by 23.2% (to 2.8 trillion rubles).

The company's capital costs over the same period increased by 32.1% compared to the same period in 2016, to 407 billion rubles, free cash flow - decreased by 33.7%, to 128 billion rubles.

As it became known later, in April 2017, Rosneft issued a new advance payment of $ 1 billion as part of an oil supply contract to Venezuelan PDVSA. It is reported by Intefrax. During 2016, the company issued PDVSA several advances: in May $ 500 million, in November two advances per $ 500 million and $ 205 million, in December $ 280 million.

In 2016, net profit related to Rosneft shareholders decreased to 181 billion rubles. At the same time, the losses of the company associated with the tax maneuver in the oil industry amounted to 165 billion rubles. Rosneft lost another 30 billion rubles due to a decrease in ruble oil prices.