imageCommodities12 hours ago (Jun 07, 2020 04:40AM ET)

(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

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here