Russia's Bashneft says 2015 Net Income up 35%

Reuters

MOSCOW, March 14 (Reuters) - Mid-sized Russian oil producer Bashneft, which is included into Kremlin's privatisation plans, said on Monday its 2015 net income jumped by 35 percent to 58.2 billion roubles ($832.5 million) thanks to rising oil production.

The company, where the 75 percent stake is split between the state property agency and the Republic of Bashkortostan, also said its last-year revenues declined by 4.1 percent to 611.3 billion roubles following a slump in oil prices.

Oil production rose last year by 12 percent to 19.9 million tonnes, while refining volumes dropped by the same magnitude to 19.1 million tonnes.

(Reporting by Vladimir Soldatkin and Olesya Astakhova; editing by Katya Golubkova)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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