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Gazprom Neft's Q1 net profit jumps 54.9%

PJSC Gazprom Neft announced May 21 a net profit attributable to its shareholders of 107.89 billion Russian rubles for the first quarter, up by 54.9% from 69.67 billion rubles a year ago.

Revenue also went up 12.6% to 586.36 billion rubles from 520.63 billion rubles a year earlier. Gazprom said the improved performance was due to a combination of "higher oil sales and a favorable price environment."

EBITDA totaled 179.05 billion rubles, topping 137.45 billion rubles, or a 30.3% increase.

Hydrocarbon production, including shares in joint ventures, increased to 171.67 million barrels of oil equivalent, up from 164.55 million boe.

Refining volumes reached 9.96 million tons, down slightly from 10.13 million tons. The volumes include those from interests in joint venture facilities.

As of May 20, US$1 was equivalent to 64.51 Russian rubles.