Gazprom Neft, the oil arm of state gas producer Gazprom, posted 73.2 billion roubles ($1.14 billion) in net profit for the second quarter, up 47 percent year-on-year, thanks to the weak rouble, the company said on Thursday.
Gazprom Neft, one of a few growing Russian oil firms by output, said its revenue was at 423.2 billion roubles compared to 429.3 billion roubles a year ago.
Hydrocarbons output at Gazprom Neft, Russia’s No.4 oil firm by production volumes, was at 146.9 million barrels of oil equivalent in the second quarter of 2015, up 25 percent year-on-year.
Gazprom Neft operates Russia’s sole offshore Arctic oil field, Prirazlomnoye, and is active in hard-to-extract oil exploration.
Russian rouble lost almost half of its value since the second quarter of last year, boosting profits for Russian exporters who are getting bulk of their revenues in foreign currencies, mainly in U.S. dollars.
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