Rosneft incurs $2.1 billion first quarter loss, sees 10% oil output cuts in 2020
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MOSCOW (Reuters) - Russia's largest oil producer, Rosneft , said on Friday it expects a 10% decline in 2020 oil output, after reporting a first-quarter net loss of 156 billion roubles (1.74 billion pounds) due to the impact of the coronavirus and a weaker rouble. Rosneft, which accounts for around 40% of Russia's total oil extraction, also said it cut its oil and gas condensate production in the first three months of the year by 2.2% from the year-earlier period to 4.64 million barrels per day..