Rosneft saw its net income increase by 50% in the fourth quarter of 2019 from the same period a year ago, according to its financial results statement released on Wednesday.
The Russian energy giant posted a net income of $2.4 billion for the October-December period of last year, up from $1.6 billion for the same period of 2018.
Revenue rose to $35.2 billion from $33.1 billion during that period to post a 6.3% jump.
For the full year of 2019, revenue came in at $135.8 billion -- a 1.6% increase from the $133.7 billion posted for the full year of 2018.
Net income for the full year of 2019 was recorded as $10.9 billion -- a 22.5% rise from $8.9 billion reported for the full year of 2018.
In 2019, Rosneft's average daily hydrocarbon production amounted to 5.79 million barrels of oil equivalent (mmboe), while average daily liquids production amounted to 4.67 mmboe -- both unchanged from 2018 levels.
The company's natural gas production fell 0.5% year-over-year to reach 66.95 billion cubic meters (bcm) in 2019, from 67.26 bcm in 2018, according to the statement.
By Ovunc Kutlu