Surgutneftegas keeps growing profit and reserves
Despite of the price fall for oil, Surgutneftegas keeps increasing both the net profit and reserves. The company’s current assets as of the end of September rose by 15% a year making up 2.3 trln roubles. This is equivalent to 3.1% of Russia’s GDP.
Surgutneftegas published its IAS report over 9 months 2015. The company’s revenue rose by 11% to 754.2 bln roubles, net profit – by 1.4 times to 498.4 bln roubles. The results of Surgutneftegas are supported by the rouble’s devaluation which covers the influence of oil price fall.
The company keeps increasing its monetary reserves: the amount of financial investment and monetary funds of Surgutneftegas grew by 15% as of the end of September against Jan-September 2014 to 2.28 trln roubles. In Jan-September 2015 Surgutneftegas didn’t attract loans, and its debt before creditors fell by 32% to 75.78 bln roubles.
Production results of Surgutneftegas haven’t almost changed: Surgutneftegas increased the extraction by about 1% to 46 mln tons of oil and 7 bln cubic m of gas.
