Rosneft to cut debt, prepayments by at least $2 bln Apr–Jun

MOSCOW, May 13 (PRIME) -- Russian oil major Rosneft plans to reduce long-term prepayments and financial debt by at least U.S. $2 billion in April–June, the company said in a statement on Monday, citing CEO Igor Sechin.

“A year ago the board of directors supported proposals to increase returns for shareholders and improve the investment attractiveness of the company. The proposals include a minimum target for reducing the total debt burden. In 2018, the company reduced its trade payables and net financial debt by more than $14 billion. In the current second quarter, we’ve set the goal of reducing these indicators by $2 billion,” Sechin said.

(65.2287 rubles – U.S. $1)

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