The Board of Directors of JSC Gazprom Neft will hold its next session on April 18, Gazprom Neft informed.
The agenda item is the purchase by Gazprom Neft's Serbia-based subsidiary NIS of a 50% equity stake in RAG Kiha Ltd (Hungary).
JSC Gazprom Neft (tax number: 5504036333) ranks fifth largest oil producer in the Russian Federation. Gazprom Neft and its subsidiaries own 61 licenses for the prospecting and development of oil fields. The proven oil reserves in the company's fields exceed 4.5 billion barrels. The company's largest shareholder is Gazprom Group.
IFRS net profit of Gazprom Neft for 2013 attributable to the company's shareholders grew by 0.9% to RUB 177.917 billion. Revenue decreased by 1% to RUB 1.504 trillion from RUB 1.519 trillion in 2012, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 4.2% to RUB 336.752 billion from RUB 323.106 billion.
According to the DataCapital information retrieval system, RAS net profit of Gazprom Neft for 9 months 2013 dropped by 22% to RUB 51.681 billion. Revenue went up 9% to RUB 735.62 billion, GP increased by 20% to RUB 118.209 billion. Pre-tax profit decreased by 16.1% to RUB 62.7 billion.
NIS is one of the largest vertically integrated companies in the oil and gas sector of Southeastern Europe which explores, produces and refines oil and gas, markets petroleum products. Its major shareholders are Gazprom Neft (56.5%) and the Republic of Serbia Government.
The company possesses two refineries with a combined refining capacity of 7.3 million tpa of oil in Pancevo and Novi Sad cities, along with 480 filling stations and petroleum storage depots. NIS is operating in several European countries: Serbia, Hungary, Romania, Bosnia and Herzegovina, Montenegro, Croatia, Bulgaria, Macedonia; also, it participates in an oil production project in Angola. In 2012, its total production of hydrocarbons will reach ca. 1.6 million toe.