The Moscow-headquartered operator raised production by 4.8% during the year to 5.1 million barrels of oil equivalent per day.

Crude oil and product sales rose by 7.5% to 207.4 million tonnes while gas sales climbed by 4.7% to 56.53 billion cubic metres.

Rosneft’s ebitda shrank by 1.7% to $29 billion with operating cost per boe falling by 9.3% to $3.90.

The Russian oil giant said its rouble-denominated net profit fell by 9.8%