Net profit of Gazprom Neft by the standards of US GAAP for 2009 was at $2.766.000, or 41% below the financial result in 2008. The net profit of Gazprom Neft (excluding one-time effect of non-cash transactions) in the IV quarter of 2009 (Q4, 2009) totaled $861 million, up 2% from the Q3 2009 and significantly above the $543 million loss, the company had in Q4, 2008, Gazprom Neft statistical report said.
The company ended up 2009 with $24.166.000 revenues from sales, a 29% drop from that of 2008, primarily due to lower prices for oil and petroleum products, says the report. Sales revenues in Q4, 2009 totaled $7.568.000, a 7-percent rise over Q3, 2009. Quarter-to-quarter revenue growth was due to an increase in prices for oil and oil products. Revenues from sales in Q4, 2009 rose by 47% from Q4 in 2008.
In 2009 Gazprom Neft’s EBITDA reached $5.977.000, showing a 31% drop compared with 2008.The EBITDA in Q4.09 totaled $1 billion 8 million, a record 283% jump from the same period in 2008 but 6% below EBITDA in the Q3 of 2009. EBITDA decline in Q4, 2009 against Q3, 2009 was caused primarily by a reduction of processing volumes ensued as a result of seasonal recession in demand for oil products. Reduced processing output led to increased exports of crude oil and a corresponding increase in transport costs and export duties, the report reads.
Gazprom Neft is one of the top leading oil and gas companies in Russia. The Company’s main activities are exploration, development, production and sale of oil and gas, as well as production and marketing of petroleum products. The Gazprom Oil Group incorporates more than 40 oil producing, refining and marketing enterprises from 18 regions of Russia and CIS countries. The company recycles over 60% of its oil. Gazprom Oil is exporting its products to 48 countries and selling them in Russia through extensive network of its own marketing companies. Currently, the Company manages about 900 filling stations in Russia and CIS countries.
The company ended up 2009 with $24.166.000 revenues from sales, a 29% drop from that of 2008, primarily due to lower prices for oil and petroleum products, says the report. Sales revenues in Q4, 2009 totaled $7.568.000, a 7-percent rise over Q3, 2009. Quarter-to-quarter revenue growth was due to an increase in prices for oil and oil products. Revenues from sales in Q4, 2009 rose by 47% from Q4 in 2008.
In 2009 Gazprom Neft’s EBITDA reached $5.977.000, showing a 31% drop compared with 2008.The EBITDA in Q4.09 totaled $1 billion 8 million, a record 283% jump from the same period in 2008 but 6% below EBITDA in the Q3 of 2009. EBITDA decline in Q4, 2009 against Q3, 2009 was caused primarily by a reduction of processing volumes ensued as a result of seasonal recession in demand for oil products. Reduced processing output led to increased exports of crude oil and a corresponding increase in transport costs and export duties, the report reads.
Gazprom Neft is one of the top leading oil and gas companies in Russia. The Company’s main activities are exploration, development, production and sale of oil and gas, as well as production and marketing of petroleum products. The Gazprom Oil Group incorporates more than 40 oil producing, refining and marketing enterprises from 18 regions of Russia and CIS countries. The company recycles over 60% of its oil. Gazprom Oil is exporting its products to 48 countries and selling them in Russia through extensive network of its own marketing companies. Currently, the Company manages about 900 filling stations in Russia and CIS countries.