The Russian oil company Rosneft has seen a substantial increase in profit in the third quarter. With this, the company recovered from the problems it encountered due to the so-called Druzhba crisis.
Rosneft had problems with an oil pipeline to Europe earlier this year. Because oil was contaminated from Russia, parts of the Druzhba pipeline were temporarily closed. Rosneft was therefore forced to reduce crude oil production.
In the past quarter, however, the company’s profit increased by 58 percent to 225 billion rubles. That is almost € 3.2 billion and more than experts had anticipated. Turnover fell by 2 percent to more than 2.2 trillion rubles, partly due to lower oil prices.
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