Slavneft increased net profit under IAS by 4 times in Q1

​The net profit of Slavneft referred to the company’s shareholders under IAS rose by 4 times in Q1 2015 against Q1 2014 to 4.074 bln roubles.

The company’s revenue in Q1 made up 58.709 bln roubles, by 13.8% more than in Q1 2014. The short-term company’s obligations as of March 31st 2015 made up 83.078 bln roubles against 89.076 bln roubles as of the end of 2014; long-term obligations – 74.616 bln roubles against 71.565 bln roubles.

Slavneft OJSC is an affiliate JV of Rosneft and Gazprom Neft. The company holds licenses for geological study of subsoil, exploration and oil and gas extraction for 31 license sites in the Western Siberia and Krasnoyarsk region. On the results of 2014 Slavneft made a net loss under IAS at the volume of 11.256 bln roubles against the profit of 9.547 bln roubles in 2013. In 2014 the company extracted 16.2 mln tons of oil.