Support The Moscow Times!

Gazprom Neft Plans $23Bln in Investments

Gazprom Neft, the oil arm of Gazprom, is expected to set aside more than $23 billion in 2013-15 investments, the company said in its presentation to investors Monday.

It said the 2013 investments will increase from $6.1 billion in 2012 to $7.4 billion. Gazprom Neft also earmarked $8.3 billion for 2014 and $7.3 billion for 2015 investments.

The company said it expects 2012 net profit to rise from $5.47 billion in 2011 to $5.71 billion, while revenues are expected to rise from $35 billion to $39.8 billion.

Gazprom Neft revised its 2011 revenue down from the $44 billion reported earlier, while the net income figure was revised up to $5.5 billion from the $5.4 billion announced earlier. (Reuters)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more