Rosneft Posts Profit as Accounting Change Mutes Ruble Impact
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OAO Rosneft reported a fourth-quarter profit after the world’s largest traded oil company by output changed accounting methods, helping avert the losses recorded by other Russian producers.
Net income rose to 89 billion rubles ($1.43 billion) from 1 billion rubles in the third quarter of last year, the Moscow-based company said in a statement on Wednesday. Sales fell 5.1 percent to 1.31 trillion rubles.