Gazprom Neft Net profit in the 2nd quarter, turnover up


By Anthony O. Goriainoff

 

Gazprom Neft said on Friday that second quarter net profit increased as revenue increased and that it would continue to focus on increasing its hydrocarbon production in the second half of the year.

The Russian energy company posted net profit of 133.08 billion Russian rubles ($ 1.79 billion) compared to 22.04 billion rubles for the second quarter of 2020. Net profit for the first half was 217.2 billion rubles, compared to 8.23 ​​billion rubles the previous year. .

Adjusted profit before interest, taxes, depreciation and amortization – a measure that excludes one-time items and other one-off items – for the quarter reached 241.05 billion rubles, up from 82.87 billion rubles a year ago.

Revenue for the quarter reached 726.78 billion rubles, compared to 398.27 billion rubles the previous year. For the first half of the year, the company reported sales of 1.338 billion rubles, an increase of 47% over the previous year.

The company said it continues to execute its refinery modernization program and that its investments are aimed at increasing production of gasoline, aviation fuels and diesel to meet the needs of the Russian domestic market.

“Throughout the second half of 2021, the company will focus on increasing the production of hydrocarbons in response to new market opportunities, improving the efficiency of all processes and continuing technological development. ”Said Managing Director Alexander Dyukov.

 

Write to Anthony O. Goriainoff at [email protected]

 

(END) Dow Jones Newswires

August 20, 2021 09:53 ET (13:53 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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