OAO Gazprom Neft (SIBN.RS), the oil unit of state gas
giant OAO Gazprom (GAZP.RS), Tuesday said net profit for the first quarter
totaled 48.4 billion rubles ($1.55 billion), a 21% increase from a year
earlier, due to higher crude and petroleum product prices and increases in
hydrocarbon production, oil refining volumes and sales through premium
channels.
The company has moved from U.S. GAAP accounting standards and starts using the
ruble as its reporting currency instead of dollars.
MAIN
FACTS:
- First-quarter revenue rose 19.8% on year to RUB278 billion.
- Adjusted earnings before interest, taxes, depreciation and amortization
totaled RUB79.3 billion for the quarter, up 10.6% on year.