OAO Gazprom Neft (SIBN.RS), the oil unit of state gas
giant OAO Gazprom (GAZP.RS), said Tuesday its net profit for the second quarter
increased 25% on the year to 38.1 billion rubles ($1.16 billion) on the back of
higher crude oil production.
MAIN FACTS:
-- 2Q
revenue stood at RUB298.8 billion.
-- Adjusted earnings before interest, taxes, depreciation and amortization, or
Ebitda, totaled RUB73.9 billion for the quarter.
-- Hydrocarbon production increased 4.2% to 113.1 million barrels of oil
equivalent.
-- Output increased due to the development of major projects, production growth
at the Priobskoye field, as well as the application of high-tech operations at
mature fields, the company said.