Group results  Adjusted operating profit: €1.83 billion, up by 215% or €1.25 billion, vs first quarter of 2016  Adjusted net profit: €0.74 billion (up by €0.74 billion vs the first quarter of 2016)  Net profit: €0.97 billion  Strong cash generation: €1.93 billion, up by 41% vs the first quarter of 2016; €2.60 billion before changes in working capital at replacement cost, up by 76%  Capex: €2.83 billion (€2.42 billion on a pro-forma1 basis), in line with our strategy to bring cashgenerative projects on stream in 2017  Disposals agreed in the first quarter of 2017 of €2.9 billion, approximately 60% of the minimum target planned for the 2017-2020 four-year period  Net debt: €14.9 billion, in line with the end of 2016  Leverage at March 31, 2017: stable at 0.28

Brent LCOc1 was 60 cents higher at $50.82 a barrel by 1255 GMT (8.55 a.m. ET) after hitting an early high of $51.09. U.S. light crude oil CLc1 was last up 60 cents at $47.93.

Средняя цена нефти марки Urals по итогам января – апреля 2017 года составила $ 51,84 за баррель. В 2016 году средняя цена на Urals в январе – апреля составила $ 33,93 за баррель. Средняя цена на нефть марки Urals в апреле 2017 года сложилась в размере $ 51,11 за баррель, что в 1,28 раза выше, чем в марте 2016 года ($39,63 за баррель).

Construction of the TurkStream gas pipeline was commenced in the Black Sea near the Russian coast.

Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India's Essar Oil Ltd because six of Essar's Indian creditors have yet to approve the deal, sources close to the talks said.

Net income attributable to Rosneft shareholders amounted to RUB 13 bln in 1Q 2017 (+8.3% vs adjusted net income in 1Q 2016) in view of significant negative effect of foreign exchange rates due to RUB appreciation.

TESCO reported a U.S. GAAP net loss of $13.7 million, or $(0.29) per share, in the first quarter of 2017. Adjusted net loss for the quarter was $13.4 million, or $(0.29) per share, excluding special items, consisting primarily of charges related to restructuring costs. This compares to a U.S. GAAP net loss of $20.1 million, or $(0.43) per diluted share, in the fourth quarter of 2016, and a U.S. GAAP net loss of $56.8 million, or $(1.45) per diluted share, in the first quarter of 2016. Adjusted net loss in the fourth quarter of 2016 was $13.3 million, or $(0.28) per diluted share, and in the first quarter of 2016 was $17.9 million, or $(0.46) per diluted share.

Global benchmark Brent crude LCOc1 was up 68 cents at $49.41 a barrel by 1327 GMT (9.27 a.m. ET). U.S. light crude CLc1 oil was 69 cents higher at $46.57 a barrel.

North Sea Brent crude oil spot prices averaged $52 per barrel (b) in April, $1/b higher than the March average and the fifth consecutive month that Brent crude oil spot prices averaged between $50/b and $55/b. EIA forecasts Brent prices to average $53/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $2/b less than Brent prices in both 2017 and 2018.

Investors cut their bullish bets on the oil price to the lowest level since OPEC reached a deal to cut output last year, amid continued doubts about the effectiveness of that agreement.