Gazprom Neft Boosts Profits on Higher Oil Prices

摘要

Robust oil prices and bigger sales volumes helped Gazprom Neft to in- crease its revenues by 12.6% in the first quarter of 2019 to nearly $8.9 billion from the same period of 2018, according to results under in- ternational financial reporting stan- dards released this week. Production growth at its major projects and effective management were the main reasons behind a near 27% hike in first-quarter earnings before interest, taxes, depreciation and amortization (Ebitda) to 197.7 billion rubles ($3 billion), Gazprom Neft, Russia’s fourth-largest oil pro- ducer, said.