2Q 2020 FINANCIAL AND OPERATING RESULTS
Lower oil prices, weaker rouble, positive export duty lag effect
Lower operating results: lower oil production due to external limitations, lower refined products output due to lower demand owing to the pandemic
Increased efficiency: growing share of high-margin volumes in oil production, high investment discipline
Strong financial results: positive free cash flow in substantial hydrocarbon demand decline environment
$1.5 billion eurobonds issue