RussNeft's net profit increased 5.5 times in 9 months

AK&M 01 December 2021 13:53

Net profit for the RussNeft Group of Companies for 9 months of 2021 increased 5.5 times to 23.55 billion rubles from 4.31 billion rubles a year earlier. EBITDA increased 2.8 times to 49.2 billion rubles, revenue - 1.78 times to 159.44 billion rubles from 89.36 billion rubles. This is stated in the company's message.

Capital investments in the Production block of RussNeft amounted to 13.35 billion rubles, which allowed 78 new production wells to be commissioned (an increase of 20 units). Oil production during the reporting period reached 4.92 million tons.

In addition, RussNeft has allocated over 200 million rubles for forest regeneration as part of the guidelines of the global low-carbon development strategy aimed at reducing the impact of industry on the environment.

PJSC NK RussNeft is among the top 10 largest oil companies in terms of oil production in Russia. The company has a balanced portfolio of assets in Russia in key oil and gas regions (Western Siberia, Volga-Ural region and Central Siberia), as well as in Azerbaijan. The number of employees of the Company is about 8 thousand people.

RussNeft's net profit according to RAS for the first half of 2021 amounted to 13.57 billion rubles against a loss of 18.66 billion rubles a year earlier. Revenue increased 1.7 times to 104.1 billion rubles from 60.09 billion rubles, gross profit - 6.6 times to 29.15 billion rubles from 4.43 billion rubles, profit before tax amounted to 17.29 billion rubles against a loss of 23.27 billion rubles.