30 Oct 2018 14:13

BP indicates Rosneft net profit in Q3 totals 285.7 bln rubles

MOSCOW. Oct 30 (Interfax) - The Rosneft profit attributable to BP shareholders in Q3 2018 was $872 million (underlying replacement cost profit before interest and tax), 13.8% more than in Q2 2018 and six-fold more than in Q3 2017, BP said in its quarterly earnings report.

That figure corresponds to an overall Rosneft net profit of 285.7 billion rubles in Q3, given that BP owns 19.75% of Rosneft shares and using the average exchange rate in the quarter of 65.5 rubles/$1.

BP estimated its share of Rosneft profit in Q2 2018 at $766 million, which corresponds to an overall net profit of 240.2 billion rubles. In fact, Rosneft reported that net profit in Q2 was 228 billion rubles.