Russneft announced earnings results for the first quarter of 2020. For the quarter, the company reported net profit drop by about 45% year-on-year to RUB 2.4 billion in the first quarter of 2020. Revenue fell to RUB 34.8 billion in the quarter from RUB 44.8 billion a year earlier, while costs decreased by 4.8% to 32.4 billion rubles. Operating loss of RUB 1.2 billion in the quarter, compared to a profit of RUB 7.7 billion a year earlier.