Support The Moscow Times!

Surgutneftegas Profits Soar

Surgutneftegas, the country's fourth-largest oil company, reported an 81 percent year-on-year rise in 2011 net profit to 233.16 billion rubles ($7.93 billion), the company said Thursday.

The results are to Russian accounting standards. Surgut is expected to start to disclose its financials to international standards starting from 2013 at the latest.

Troika Dialog analysts say that as per the Surgut's policy, the dividend on preferred shares will come to 2.15 rubles per share, for a 10.3 percent yield.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.