Chief Executive of Russian oil firm OAO Rosneft (ROSN.RS), Sergey Bogdanchikov, said Friday it is optimistic about the second quarter and that there is no reason to change the company's financial outlook for 2009.
Bogdanchikov expects the Urals oil price to average between $50 and $55 a barrel in 2009. Rosneft, whose 2009 business plan is based on an oil price of $50 a barrel, beat forecasts when it published first-quarter results last week.
Bogdanchikov also said Rosneft is finalizing documents for the construction of a refinery in China and plan to present the full study in September.
Rosneft agreed in 2007 to build a refinery in partnership with state-owned China National Petroleum Corp. at the northern Chinese port of Tianjin.