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 2016 Thomson Reuters. Click for Restrictions.


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