Rosneft Q4 21 Earning Preview - High oil prices to ensure strong Q4 21e results
Rosneft is to be the first among Russian O&G companies to report IFRS results for Q4 2021eStronger qoq oil prices to maintain revenue and EBITDA in Q4 21e
Yet, Q4 21e net income to be pressed by negative FX effect and impairment expenses
Final DPS for 2021e is estimated at RUB 24.4
OJSC OC Rosneft is a vertically-integrated Russian oil and gas company with upstream and downstream operations in each of Russia's oil-producing regions. Headquartered in Moscow, Co. operates ten oil and gas producing enterprises across Russia and is involved in over ten exploration projects. In addition to its upstream operations, Co. also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. Co.'s downstream operations consist of its crude oil export structure, refining operations and nationwide network of marketing subsidiaries.
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