Russian Rosneft Posts Nearly 50% Surge in Profits for 2023 ...Middle East

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Russian Rosneft Posts Nearly 50% Surge in Profits for 2023
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Russian state-run oil company Rosneft has reported a nearly 50% jump in net profits for 2023, Reuters reports, hitting over $14 billion despite Western sanctions following Russia’s 2022 invasion of Ukraine.   According to Reuters, Rosneft’s 2023 net profit surged by 47.2% to 1.3 trillion rubles–the equivalent of approximately $14.7 billion. Earnings before EBITDA jumped 17.8% to 3 trillion rubles, with revenues up 1.3%.  Rosneft continues to rake in profits as Europe, particularly Germany, mulls the fate of…

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