icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Gazprom Neft posts 1Q 2011 net profit of $1.437 billion

Gazprom Neft posts 1Q 2011 net profit of $1.437 billion
Russian oil producer, Gazprom Neft, has posted a 1Q 2011 net profit of $1.437 billion under US GAAP.

The net result is up 91% year on year, with 1Q 2011 EBITDA rising 56% year on year to 2.467 billion as 1Q 2011 revenues rose 35% year on year to $9.865 billion.Gazprom Neft said the results reflected higher crude sales against a backdrop of higher global crude prices, with increased refining volumes and revenues from oil products sales partially offset by higher excises and rising production costs.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.