Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Surgut Sees $160M Q1 Loss

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)

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.