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Home / News / Today's Headlines / Russia's Slavneft posts 9.2% profit drop in 2008

17.08.2009

Russia's Slavneft posts 9.2% profit drop in 2008

Russia's Slavneft posts 9.2% profit drop in 2008 

Crude oil producer Slavneft, ranked among Russia's top ten oil companies, posted a 9.2% drop, year-on-year, to $483.56 million in its 2008 U.S. GAAP net profits.The crude producer's revenue increased 18.4% to $7.26 billion in the reporting period.

Earlier reports said Slavneft's net profit calculated to Russian Accounting Standards reached 6.18 billion rubles ($194.5 million) last year, up fivefold against the 2007 index.Slavneft is co-owned by Gazprom Neft, the oil arm of Russian energy giant Gazprom, and Russian-British joint oil venture TNK-BP. -  Copyright 2009, RIA Novosti. All rights reserved.  

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