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Gazprom Neft posts higher Q2 net profit YOY with better production

PJSC Gazprom Neft reported Aug. 8 a net profit of 107.15 billion Russian rubles for the second quarter, topping 96.81 billion rubles a year ago.

Sales totaled 628.32 billion rubles during the quarter, climbing from 617.10 billion rubles in the prior-year period.

Adjusted EBITDA decreased to 210.37 billion rubles for the quarter, compared with 212.40 billion rubles a year earlier.

Hydrocarbon production reached 179.6 million barrels of oil equivalent for the quarter, up from 168.5 million boe in the prior-year period.

As of Aug. 7, US$1 was equivalent to 65.59 Russian rubles.