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26 October 2011

Rosneft’s EBITDA amounted to USD 5,283 million in Q3 2011, which is an increase of 13.9% year-on-year. An increase in the tax burden, particularly due to annulment of a reduced export duty for Vankor crude and the end of Vankor MET holidays, put downward pressure on the figure. The increase was also tempered by higher transportation and electricity tariffs year-on-year.

26 October 2011

Laurence Bates, who previously served as vice president and project director in the Russian shelf division at BP, has been appointed vice president and business development advisor to the president of Rosneft.