Russian oil giant Rosneft posted a loss of 156 billion rubles (around $2.2 billion) for the first quarter of 2020, the company announced on Friday.
Revenues for the January-March quarter fell by 15% to around 1.8 trillion rubles (about $24 billion) compared to the same period of 2019, according to the company’s statement.
In the first quarter, the company's oil production declined by 1.1% to 57 million tons.
The company completed a deal in April, which was announced on March 28, to exit all Venezuelan projects by transferring all its assets in the country to a Russian state-owned company, Rosneft confirmed.
Reporting by Emre Gurkan Abay in Moscow
Writing by Firdevs Yuksel