In Q1, Bashneft’s net profit grew by 16.4%

Today Bashneft, which includes the oil company Bashneft and its subsidiaries, associates companies and joint ventures, reported its unaudited consolidated financial results for the first quarter of 2014, prepared in accordance with International Financial Reporting Standards.

In the first quarter of 2014m the group’s proceeds increased by 16.8% to 146,668 million rubles as compared with the first quarter of 2013. The proceeds growth is primarily connected with increased volumes of oil production and oil products output by 7% and 3.2%, respectively, increase in oil exports (by 24.2%) and petroleum products (by 21.8%) in countries outside the Customs Union, as well as increase of the U.S. dollar against the ruble by 14.8 % and growth in retail sales of oil products in the domestic market by 9.5%. The group’s revenue from sales in the first quarter of 2014 increased by 0.3 % as compared with the fourth quarter of 2013.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer