PUBLIC JOINT STOCK C

GAZP
End-of-day quote. End-of-day quote  - 01/21
313.47RUB -1.46%

Gazprom Neft 3Q Profit Rose on Higher Production, Prices

11/18/2021 | 07:56am

By Jaime Llinares Taboada

Gazprom Neft on Thursday reported that its net profit rose in the third quarter, reflecting higher production and prices.

The oil-and-gas company, which is 96% owned by Gazprom PJSC, made a net profit of 139.73 billion rubles ($1.92 billion) in the three months through the end of September, up 5.0% from RUB133.08 billion in the second quarter.

Adjusted earnings before interest, taxes, depreciation and amortization increased 10% quarter-on-quarter to RUB266.01 billion.

Hydrocarbon production rose 5.0% in the quarter, whereas realized prices per oil-equivalent barrel were up 6.1%.

The net profit for the first nine months of 2021 was RUB356.97 billion, up from RUB36.19 billion for the same period of 2020.

"For the full year, the company is expected to produce over 100 million tonnes of oil equivalent for the first time in its history, with further growth potential next year," Chief Executive Alexander Dyukov said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

11-18-21 0756ET

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