From January to June of 2011, the profits of Gazprom Neft rose by an impressive 74 percent on a year-on-year bases. Computed in accordance with U.S. GAAP, the profit figure stood at USD 2 604 million.

From April to June of the current year, the net profit of Gazprom Neft increased by 56 percent on a year-on-year basis, reaching USD 1.167 billion.

The overall revenue increase was 39 percent on a year-on-year basis from January to June. The revenue figure was up to USD 21.34 billion. Company analysts have explained that the increase is attributable to higher prices and larger volumes of sales of crude oil and petroleum products.  

The company’s EBITDA figure stood at USD 4.945 billion in the first six months of the year, evidencing an increase of 58 percent in relation to the same reporting period in 2010. The increase in EBITDA is mostly due to greater volumes of processing, the optimization of transactional mechanisms, and improved situation on the markets. Last year, the net profit indicator of Gazprom Neft was up by 11 percent from its 2009 figure. As such, the net profit in 2010 was USD 3.433 billion.