Gazprom Neft's audited annual net profit under RAS grew 26.5 percent, from RUB 62.83bn (approx. USD 2.66bn) in 2006 to RUB 79.5bn (approx. USD 3.37bn) in 2007, the Russian energy giant's oil arm stated in a report approved during today's annual general shareholders meeting.
Net profit under US GAAP rose 13.2 percent from USD 3.66bn to USD 4.143bn, the report reads. In the fourth quarter of 2007 alone, net profit jumped 58.6 percent to USD 1.324bn compared to Q4 2006. Revenue increased 6.1 percent to USD 21.1bn in 2007, including a revenue of USD 6.423bn in Q4 2007. EBITDA went up 12.8 percent to USD 5.828bn in 2007 (USD 1.669bn in Q4), and net operating cash flow climbed 59.7 percent to a record high of USD 5.271bn.