Rosneft profits plunge as coronavirus crushes oil demand ...United Arab Emirates

Russia's oil giant Rosneft on Friday reported a first-quarter loss of 156 billion rubles ($2.1 billion) as a result of an unprecedented slump in global oil demand and a weaker ruble. The company said it has cut oil and gas condensate output by 2.2 percent from this period last year to 4.64 million barrels per day (bpd), in accordance with a global agreement to curb production. It also plans to cut investment by around $2.7 billion, or 21 percent, this year. Rosneft CEO Igor Sechin said in a statement that "2020 may become a turning point for the global oil and gas industry. As a result of the global Covid-19 virus pandemic, demand for

Read More Details
Finally We wish PressBee provided you with enough information of ( Rosneft profits plunge as coronavirus crushes oil demand )

Also on site :

• Planting the seeds for remembering
• Prabowo hails BRICS entry, reaffirms Indonesia’s non-aligned stance
• Legendary ’70s Actor Seen in Rare Outing With Much Younger Girlfriend