Source Pravda.Ru

Sibneft posts preliminary estimates on net profits

Net profits of the Russian oil company Sibneft, calculated by US GAAP standards, are forecasted to drop to $1.05bn in 2002 compared to $1.305bn in 2001, the company's press service reported. The source explained that the company's net profits dropped due to low prices for oil products on the Russian market, the purchases of oil by the Moscow Refinery from third parties, higher single tax rates for production of mineral resources and some other factors.

According to preliminary data, Sibneft's revenues from the sale of oil and natural gas increased 40.2 percent last year, from $3.449bn in 2001 to $4.835bn in 2002. The company's EBITDA reached $1.775bn, which was 3.3 percent more than in 2001. Its debts totaled $2.175bn by the end of 2002 compared to $923m as of the beginning of 2002.

© &to=http://www.rbc.com' target=_blank>RBC

Comments
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
Russians massively break traffic rules on Crimea Bridge
International study indicates ways to mitigate the effects of climate change on agriculture
12 signs of imminent war between the West and Russia
The Royal Wedding and the Silly Season
12 signs of imminent war between the West and Russia
12 signs of imminent war between the West and Russia
Argentina suggests Putin should reinstate gay propaganda for World Cup 2018
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
International study indicates ways to mitigate the effects of climate change on agriculture
Russian opposition activists desperately urge the West to topple President Putin
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season
The Royal Wedding and the Silly Season