Gazprom Neft Posts 18% Revenue Hike But Net Profits Lag Behind

摘要

Emboldened by higher oil prices and in- creased sales of crude oil and products, Gazprom Neft posted a healthy 18% year- on-year increase in revenues in the July-Sep- tember period, although net profits were up just 2.2% year-on-year. Russia's fifth-largest crude oil producer saw net profits rise to $865 million in the third quarter, up from $846 million in the same period last year. Net profits in the first nine months climbed 24% to $2.366 billion under US GAAP standards, which took into account profits being adjusted for a $470 million one-off gain following the acquisi- tion of Sibir Energy.