Gazprom Neft 3Q Profit Rose on Higher Production, Prices
November 18 2021 - 8:11AM
Dow Jones News
By Jaime Llinares Taboada
Gazprom Neft on Thursday reported that its net profit rose in
the third quarter, reflecting higher production and prices.
The oil-and-gas company, which is 96% owned by Gazprom PJSC,
made a net profit of 139.73 billion rubles ($1.92 billion) in the
three months through the end of September, up 5.0% from RUB133.08
billion in the second quarter.
Adjusted earnings before interest, taxes, depreciation and
amortization increased 10% quarter-on-quarter to RUB266.01
billion.
Hydrocarbon production rose 5.0% in the quarter, whereas
realized prices per oil-equivalent barrel were up 6.1%.
The net profit for the first nine months of 2021 was RUB356.97
billion, up from RUB36.19 billion for the same period of 2020.
"For the full year, the company is expected to produce over 100
million tonnes of oil equivalent for the first time in its history,
with further growth potential next year," Chief Excutive Alexander
Dyukov said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
November 18, 2021 07:56 ET (12:56 GMT)
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