Mubasher: Rosneft on Monday reported a sharp rise in its profits for the final quarter of 2017, noting that the full year results had enjoyed an overall improvement in financial and operational performance.

The Russian oil firm logged RUB 100 billion ($1.74 billion) in profits in the three-month period ended December 2017, up from RUB 47 billion ($820 million) in the same period of 2016.

Meanwhile, revenues increased by 14% quarter-on-quarter to RUB 1.7 trillion.

As for the full year 2017, Rosneft’s profits rose 28% to RUB 222 billion compared to RUB 174 billion in 2016, the data showed.

Hydrocarbon production grew 6.5% to 5.72 million barrels of oil equivalent per day (boepd) last year compared to production in 2016, Rosneft stated.