Rosneft executive promises to keep dividends despite net loss

MOSCOW, May 15 (PRIME) -- Russian oil major Rosneft will not change the dividend policy even in the current unpreceded conditions, First Deputy CEO Pavel Fyodorov said during a conference call on Friday.

"We confirm again the permanence of our dividend policy principles even in the current tough, unpreceded conditions," the executive said.

He said that the company expects a decrease in oil production by 24 million tonnes as compared with the business plan in 2020 and by 33 million tonnes in 2021. The production in 2022 is to fall as well.

Fyodorov said that Rosneft will not reduce production on the Samotlorskoye deposit under the OPEC plus deal.

"The only deposit not to be affected by the output restrictions and accompanying capital expenditure fall is the Samotlor project whose development the company continues on the basis of an agreement signed with the Finance Ministry, where the total amount of investment and a mineral extraction tax (MET) decrease for the field were set in absolute figures," Fyodorov said.

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