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Rosneft's quarterly net profit fell by 75 percent as crude oil prices declined, but Russia's top oil producer also blamed heavy investment in the period.
Russian President Vladimir Putin has tried to reassure ordinary Russians about the state of the country's economy.
Russia's central bank has left its main lending rate at 11 percent and signalled that it is not looking at cuts to the cost of borrowing anytime soon as it focuses on keeping inflation under control.
Russian car ,manufacturer Avtovaz has dumped its chief executive Bo Andersson after the Lada maker reported a record loss following slumping sales.
Russian central bank governor Elvira Nabiullina says the bulk of banking loans in Russia should be in roubles to minimise risks related to currency fluctuations.
The authorities in Moscow have defended their right to demolish small businesses they say are illegal and unsafe. Last week they sent bulldozers to
Russia is enjoying a tourism boom of Chinese visitors who have become the largest group of foreign visitors with numbers more than doubling last year compared with 2014.
Russia's economy is set to dip deeper into recession according to the latest central bank forecasts as the Kremlin looks at selling stakes in state owned companies.
Russia's economy contracted by 3.7 percent in 2015 according to the government statistics service in Moscow. They said retail sales fell by 10 percent and capital investment by 8.4 percent.
The rouble slumped to new record lows on Thursday, threatening more hardship for ordinary Russians, but the Kremlin denied the currency was collapsing.