Russia's Gazprom Neft Says 2014 Net Profit Down 32%

MOSCOW, March 2 (Reuters) – Russia's Gazprom Neft, the oil arm of gas producer Gazprom, said on Monday its net profit declined by 32 percent to 122.1 billion roubles ($2 billion) in 2014 due to a weaker rouble.

It also said its 2014 revenues rose by 12 percent to 1.69 trillion roubles.

The company, which develops Russia's only producing Arctic offshore deposit, said it sustained loss of more than 52 billion roubles last year, which inflated its debt, nominated in foreign currencies.

Gazprom Neft's shares were up almost 2 percent in the afternoon trade, outperforming the broader Moscow stock market, which rose by 1.3 percent.

(Reporting by Vladimir Soldatkin; Editing by Lidia Kelly)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Substation Engineer
Expertise: Engineering Manager
Location: Florida, FL
 
US Duncan, OK: Senior Accountant
Expertise: Accounting|Financial Analyst
Location: Duncan, OK
 
CFO/ Senior Financial Manager
Expertise: Accounting|Financial Analyst
Location: Carrizo Springs, TX
 
search for more jobs

Brent Crude Oil : $55.23/BBL 0.46%
Light Crude Oil : $52.75/BBL 0.62%
Natural Gas : $3.24/MMBtu 1.25%
Updated in last 24 hours