Gazprom Neft Press Office:
JSC Gazprom Neft today, October 11, reported its consolidated financial results in accordance with US GAAP for the six months ending June 30, 2007.
In the first half of 2007, Gazprom Neft’s Net Income was US$1.862 billion, which is an increase of 3.9% y-o-y.
Net cash flows from operating activities amounted to $2.301 billion, which is 94% higher y-o-y.
Earnings before taxes, interest, depreciation and amortization (EBITDA) for the first half of 2007 increased by 3.3% as compared to EBITDA for the first half of 2006, and amounted to $2.710 billion.
Revenues for the first half of 2007 reduced by 8.7% to $9.243 billion y-o-y, that happened due to fall of world oil and oil products prices and change in the revenues structure.
Key Gazprom Neft half-year 2007 Financial Figures
|Revenues||9 243||10 123|
|EBITDA||2 710||2 624|
|Net Income||1 862||1 793|
Besides, JSC Gazprom Neft oil production in the first half of 2007 increased by 1.4% up to 16.35MMTonn y-o-y (without 50% share in JSC “NGK Slavneft”).
Refining throughput for the first half of 2007 increased by 17.2% up to 12.9MMTonn y-o-y.