Rosneft Plans to Repay $13Bln Debt in 2014
State-owned oil and gas giant Rosneft plans to repay debts of 470 billion rubles ($13 billion) before the end of 2014, PRIME reported last week, quoting a company presentation.
Rosneft's debt therefore will decline to 1.116 trillion rubles by the end of the year from 1.586 trillion rubles as of March 31, 2014.
The company plans to repay another 649 billion rubles of debt in 2015, 301 billion rubles in 2016 and 294 billion in 2017.
Rosneft posted a net profit of 88 billion rubles in the first quarter of this year, down 13.7 percent on the same period a year ago. Revenues rose by 69 percent to 1.375 trillion rubles, while earnings before depreciation and amortization more than doubled to 289 billion rubles. (MT)
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