May 14, 2018 / 1:59 PM / a year ago

Russia's Rosneft plans to announce share buyback details in June

FILE PHOTO: The logo of Russia's oil producer Rosneft is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. Picture taken June 1, 2017. REUTERS/Sergei Karpukhin/File Photo

MOSCOW (Reuters) - Rosneft (ROSN.MM), Russia’s top oil producer and one of the biggest globally, plans to reveal share buyback details in June, CFO Pavel Fyodorov said in a conference call on Monday.

The company had announced a series of measures on May 1 to improve shareholder returns, such as a $2 billion share buyback and plans to cut total debt and trading liabilities by a minimum of 500 billion rubles ($8 billion).

Reporting by Olesya Astakhova; Writing by Katya Golubkova; Editing by David Goodman

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