Sunday February 23, 2020

Irish arm of Russian oil giant Rosneft shipped $22.6m loss

Takes a write-off from another loss-making investment

Barry J Whyte

Chief Feature Writer

@whytebarry
18th February, 2016
Pic: Courtesy Rosneft

The Irish subsidiary of Russian state oil conglomerate Rosneft – Rosneft International – lost $22.6 million in 2013 according to the most recent set of accounts filed here.

The bulk of the loss relates to an impairment charge of $20.7 million which the company recognised from the write-down on its investment in another company, Oxoil Limited, “which the company assessed to be non-recoverable,” the accounts state.

Oxoil is a wholly owned subsidiary of Rosneft International. The...

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