Russia’s Rosneft, the largest crude oil producer in the country, reported a 92.8% quarterly increase in its net profit for the first quarter of the year. Rosneft also said its average daily production had stood at 5.43 million barrels of oil equivalent daily during the reporting period, of which 3.85 million bpd were liquid hydrocarbons.
The net result hit $14 billion and represented a close to 50% increase from 2022 levels. Meanwhile, Rosneft has become a target for Ukrainian drone attacks on refineries, with its facility in Ryazan, less than 200 miles from Moscow, attacked twice. The first attack came in the middle of March and then the facility was struck again earlier this month.
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