Gazprom Neft Beats Forecasts With Near-Doubling of Profits

摘要

Gazprom Neft beat analysts' consensus earnings forecasts on Thursday, reporting a 91% increase in net profits in the first quarter of the year that it attributed to higher oil prices and sales. Russia's fifth-largest oil producer saw its oil output -excluding Gazprom Neft's stakes in Slavneft, Tomskneft and Salym Petroleum Development -inch up 1.4% from year-earlier levels to 630,000 barrels per day. Gas production, including output from the subsidiaries, jumped 135.4% to 800 million cubic feet per day, thanks to the start-up of production from the deeper layers of two West Siberian fields, Muravlenkovskoye and Novogodnee.