Novatek 2Q Profit, Revenue Rose
July 28 2021 - 7:39AM
Dow Jones News
By Matteo Castia
Novatek reported Thursday a rise in pretax profit and revenue
for the second quarter of the year.
The Russian energy company made a pretax profit of 113.19
billion rubles ($1.53 billion) for the period, compared with
RUB34.73 billion in the year-earlier period.
Revenue rose to RUB264.45 billion from RUB143.94 billion the
prior year.
"The OPEC+ participants maintained restricted crude oil
production targets that, together with the severe cold weather in
Europe, Asia, and North America in the beginning of the year, has
led to significant increases in benchmark hydrocarbons prices in
the first quarter 2021," the company said, adding benchmark
hydrocarbons prices continued to increase in the second quarter
further boosting the business.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
July 28, 2021 07:29 ET (11:29 GMT)
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