Moscow Oil Refinery increases net profit by almost 10% in H1
MOSCOW. Aug 12 (Interfax) - Gazprom Neft's Moscow Oil Refinery, increased is net profit for the first half of 2011 by 9.7% year-on-year too 1.4 billion rubles, the company said in its financial reporting.
The refinery's sales revenue went down by 0.7% to 5.628 billion rubles while gross profit increased by 27% to 2.745 billion rubles. Profit from sales increased by 0.1% to 1.749 billion rubles while pretax profit increased by 10.22% to 1.779 billion rubles.
The shareholder in the refinery is Gazprom Neft's joint venture with Sibir Energy, Moscow NPZ Holdings B.V., which is registered in the Netherlands and owns 90.02% of the voting shares in the facility. At the start of 2011, Gazprom Neft closed a deal in which it acquired 100% of Sibir Energy, thereby acquiring control of Moscow Oil Refinery.
Moscow Oil Refinery supplies over half of petroleum products to Moscow and its region. The facility produces around 10 million tonnes of petroleum goods a year.