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MOSCOW, November 11. /TASS/. Gross debt of Russia’s top oil producer Rosneft under International Financial Reporting Standards (IFRS) decreased 2.5% in 9 months of 2016 year-on-year to $46.3 bln, the company said in a press release on Friday.
Its net debt increased 6.5% in the reporting period to $26.1 bln, Rosneft said.
Earlier the company planned to repay $14.3 bln worth of its debt in 2016. According to the data provided by the company, in 2017 it plans to repay $11.7 bln (versus $9.7 bln announced earlier), in 2018 - $12.2 bln (versus $11.7 bln), in 2019 - $1.9 bln (versus $1.8 bln) and in 2020-2029 - $15.6 bln.
The company's net income decreased 57.3% in 9 months of 2016 year-on-year to 129 bln rubles ($1.9 bln).
EBITDA dropped 5.6% in the reporting period to 913 bln rubles ($14 bln), revenue plunged 11.4% to 3.5 trillion rubles ($53 bln).
Free cash flow decreased 63.4% in January-September period to 189 bln rubles ($4.1 bln) and 21.3% in the third quarter of 2016 to 48 bln rubles ($1.3 bln), the report said.
"In the third quarter of 2016, the environment on the commodity markets remained difficult. Additional pressure on the company’s profitability was from considerable negative export duty lag effect," Rosneft CEO Igor Sechin was quoted as saying.