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NK Rosneft' OAO Issues FY 2013 Net Profit Guidance Above Analysts’ Estimates; Ups Oil Production Forecast and Gas Output for 2013-Interfax


Tuesday, 24 Sep 2013 12:13am EDT 

Interfax reported that NK Rosneft' OAO (Rosneft) expects to report net profit for the fiscal year 2013 of RUB 439 billion to International Financial Reporting Standards (IFRS). Rosneft President Mr. Igor Sechin said during a meeting with Prime Minister Mr. Dmitry Medvedev that the Company bases this expectation on its figures for January-September. Oil extraction in 2013 will be roughly 207 million tons of oil, for gas the Company will exceed 42 billion cubic meters, Mr. Sechin said. The Rosneft chief acknowledged the government's support in the projects it is carrying out, including in the Far East and Eastern Siberia with the modernization of oil refineries. According to I/B/E/S Estimates analysts on average are expecting Rosneft to report net income of RUB 412,706.11 million for the fiscal year 2013.