The poor financial performance of the oil company Rosneft is not surprising, as during 2020 the Russian economy has collapsed.
This is what the chief executive, Igor Sechin, said during a meeting with President Vladimir Putin, adding that during this year the company’s revenues were 80 percent less.
Also, according to Russian media, there was a major devaluation of Rosneft, as in March last year Sechin caused an unprecedented collapse in oil prices.
During the third quarter of 2020, the Russian company suffered losses of nearly $ 1 billion.
Rosneft is the Kremlin-controlled second-largest oil company after Gazprom.