Gazprom Neft reports record financial performance for 2017

Gazprom Neft has published consolidated financial accounts (IFRS) for the 12 months ended 31 December 2017.

Net profit for the 12 months of 2017 of RUB253 billion — a 26.5-percent increase on 2016;

Adjusted EBITDA* reached RUB551 billion in 2017, a 20.8-percent increase on 2016;

Hydrocarbon production (including Gazprom Neft’s share in production at joint ventures) increases by 4.1 percent on 2016, reaching 89.75 million tonnes of oil equivalent (mtoe);

Revenue (including duties) increased by 18.2 percent on 2016, reaching RUB2.004 trillion;

Free cash flow (FCF) generated over the 12 months of 2017 stands at RUB65 billion.