In Q1, Rosneft reduced oil processing by 7% to 22.6 million tons

In the first quarter of 2016, Rosneft reduced oil refining by 7.1% compared to the same period last year to 22.61 million tons, the company reports.

"In the first quarter of 2016, the company continued to optimize the performance of its refining capacity, as well as to implement a program to upgrade them. The volume of the oil processing in the Russian Federation (19.5 million tons) decreased both in comparison with the fourth quarter of 2015 and the first quarter of 2015 due to unfavorable market conditions and the negative impact of the tax maneuver. At the same time, the volume of the oil processing at refineries abroad (3.1 million tons) exceeded the figures of the fourth quarter of 2015 (+ 2%) and the first quarter of 2015 (+ 17%),"- the message says.