Chernomornaftogaz ups net profit 2.5-fold in 2011
KYIV. Feb 16 (Interfax) - Ukrainian state-run Black Sea Gas (Chernomornaftogaz) saw its net profit up 2.5-fold to UAH 53.234 million last year, the company said in an official statement.
Net income was up 11.9% to UAH 975.252 million last year, and gross profit jumped 31.8% to UAH 322.563 million.
Chernomornaftogaz boosted natural gas production 0.5% last year to 1.056 billion cubic meters (bcm). It stepped up oil output 1.1% to 8,800 tonnes but cut gas condensate production 4.8% to 67,100 tonnes.
Chernomornaftogaz carries out offshore development in Ukrainian sections of the Black and Azov Seas. The company also produces hydrocarbons at fields in the Crimea, operates underground gas storage facilities on the Glebovsky peninsula and trunk pipelines. Naftogaz Ukrainy manages 100% of the company's stock.
The official exchange rate on February 16 was UAH 7.9881/$1.