“Saratovneftegas” increased its net profit 1.7 times – up to 1.2 billion rubles during nine months.
NIZHNI NOVGOROD, November 14, - RIA “Novosti”. OAO “Saratovneftegas”, a subsidiary of oil producing company OAO “RussNeft”, in January-September of 2008 9ncreased its net profit 1.72 times as compared with the analogous period of the last year – up to 1.242.billion rubles, says the official report of the company.
According to the documents, the sales proceeds of “Saratovneftegas” during the first three quarters of the current year has grown by 26.14% - up to 8.498 billion rubles, the cost of production increased by 25.34% - up to 6.610 billion rubles.
The company’s sales profit during the nine months has grown by 32.87% - up to 1.642 billion rubles, profit before taxation increased 1.62 times – up to 1.679 billion rubles.
Debtor indebtedness of OAO “Saratovneftegas” during the fiscal period increased 6 times – up to 2.817 billion rubles, creditor indebtedness grew by 35.99% - up to 1.229 billion rubles.
OFO “Saratovneftegas” was integrated into “RussNeft” in December 2005. The company is the largest subsoil user in Saratov Region, it produces about 90% of hydrocarbons produced in the region. The oilfields developed by the company are situated in Saratov ans Volgograd Regions. As of the beginning of the year 2008 “Saratovneftegas” was developing 41 oilfields.