Russian oil company RussNeft ended January-September this year with a net profit of 23.55 billion rubles ($318.6 million). This is 19.24 or 5.5 times more than in the same period in 2020, Report says.
In the first nine months of this year, RussNeft's EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 2.8 times to 49.2 billion rubles ($665 million), and revenues increased 1.78 times to 159.44 billion rubles ($2.156 billion).
Over the reporting period, capital investments in RussNeft's production unit amounted to 13.35 billion rubles ($180.55 million), which allowed the commissioning of 78 new production wells (an increase of 20). The company's oil production reached 4.92 million tons.
In addition, RussNeft has allocated more than 200 million rubles ($2.7 million) for reforestation as part of the guidelines for a global low-carbon development strategy aimed at reducing the industry's environmental impact.
RussNeft is among the top 10 largest oil companies in Russia in terms of oil production. The company has a balanced portfolio of assets in major oil and gas regions in Russia (Western Siberia, Volga-Ural region, and Central Siberia), as well as in Azerbaijan. The number of the company’s employees is nearly 8,000.