CEO says Rosneft cuts production costs to $2.6/bbl in Q4

MOSCOW, Feb 12 (PRIME) -- Russian oil major Rosneft reduced production costs to U.S. $2.6 per barrel of oil equivalent in October–December, CEO Igor Sechin said on Friday.

"We can proudly say today that we have not only managed to cope with the challenges of 2020 but to demonstrate ability to work in difficult conditions of unpreceded low prices," Sechin said.

He also said that Rosneft's production costs in 2020 amounted to $2.8 per barrel due to cost efficiency measures taken by the company.

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