(C) Reuters. FILE PHOTO: The logo of Russia’s oil company Rosneft is pictured at the Rosneft Vietnam office in Ho Chi Minh City
MOSCOW (Reuters) – Russia’s largest oil producer Rosneft (MM:ROSN) said on Sunday it planned to maintain a dividend policy of paying out half of its net profit despite the state lowering its stake in the company to below 50%.
Rosneft plans to continue developing offshore fields in Russia but does not plan to start any new offshore projects until after oil prices recover, it said in a statement to Reuters.
State holding company Rosneftegaz relinquished its controlling stake in Rosneft after the latter left its business in Venezuela, an adversary of Washington.
Rosneft says no change to dividend policy despite lower state stake
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