About: http://data.cimple.eu/news-article/d3444ed0cd5ad23b93d9d05d493220a0c9a0f4eb564a2f0a0b76c2ab

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About: http://data.cimple.eu/news-article/d3444ed0cd5ad23b93d9d05d493220a0c9a0f4eb564a2f0a0b76c2ab Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Russian oil giant Rosneft said Friday that its earnings were back in the black in the first quarter after oil prices recovered following Moscow's production deals with OPEC. State-controlled Rosneft reported a net profit of 149 billion rubles ($2 billion) in the first quarter, compared with a loss of 156 billion rubles in the same period last year. It is the latest major oil company to report a spike in quarterly profits thanks to rising crude prices. Global oil prices, already low amid growing competition, were hit hard by the onset of the coronavirus pandemic last year, with demand hammered as many countries shut down swathes of their economies in a bid to slow the spread of Covid-19. That caused a glut in supplies and a plunge in prices that briefly saw some turn negative. Russia and other major producers joined with the Organization of the Petroleum Exporting Countries (OPEC) in agreeing a series of production limits that helped prop up prices. In recent months prices have returned to pre-pandemic levels, hovering around $65 per barrel. Between January and March 2021, Rosneft -- which is about one-fifth owned by Britain's BP -- said its revenue fell slightly to 1.7 trillion rubles. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 44 percent year-on-year to 445 billion rubles. In a statement from the group, Rosneft CEO Igor Sechin hailed the results as "strong" despite the "difficulties caused by the Covid-19 pandemic". Sechin said Rosneft is continuing its ambitious northern Vostok Oil project, which "guarantees the company stability of production and profit levels". Production at the project is expected to start in 2024, with the aim of reaching an output of 100 million tonnes by the start of the next decade. apo-acl/mm/lth
schema:headline	Russian oil giant Rosneft back in black as prices recover
schema:mentions	Russian ruble OPEC Barrel BP Moscow Chief executive officer Russia Pandemic Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Sechín River Igor Sechin Rosneft Amortization Depreciation Earnings before interest, taxes, depreciation, and amortization
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-14 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	75 (xsd:integer)

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