Bloomberg News

Gazprom Neft 2011 Net Rises 71% to $5.35 Billion, Beats Estimate

February 09, 2012

Feb. 9 (Bloomberg) -- OAO Gazprom Neft, the oil unit of Russia’s gas producer and exporter, said profit rose 71 percent last year after crude prices climbed.

Net income increased to $5.35 billion from $3.13 billion the previous year, the St. Petersburg-based company said in a statement today. That beat the $5.2 billion average estimate from 15 analysts surveyed by Bloomberg.

Revenue rose 34 percent to $44.2 billion, the Russian oil producer said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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