In H1, the Serbian subsidiary of Gazprom Neft reduced net profit by 5% to Euro 143 million
Edited by Rhod Mackenzie / 2014-09-08 01:47:58
Finance Oil and Gas Refining Russia Financial results Petrol Russia Oil and Gas Gazpromneft Oil Production and Refining
In H1, NIS, the Serbian subsidiary of Gazprom Neft reduced net profit by 5% to Euro 143 million or 17 billion dinars, and increased EBITDA by 10% to 30.9 billion dinars due to reduction in production and operational expenses. The company reduced the investment program by 26% to 17.8 billion dinars due to the decline in cash flow and growth in debit debt.
Hydrocarbons yield reduced by 1% to 809,000 tons in oil equivalent. Oil refining increased by 12% to 1.574 million tons. Oil products sales increased by 6% to 1.425 million tons.
Translated by Nadezhda Poltoratskaya
