Surgutneftegaz, Russia's fourth-largest oil company, on Thursday reported a 4.7 billion ruble ($160 million) net loss for the first quarter against a 15.3 billion ruble profit a year ago.
Revenues rose 17 percent, year on year, to about 220 billion rubles, the company said in a statement on its website.
The results are to Russian Accounting Standards. Surgut is expected to start disclosing its financials to international standards starting from 2013.
(Reuters)