Russia’s Gazprom Neft saw its 2011 net profit rise by 71%, year-on-year to $5.35 billion, partly on the back of rising crude prices.
The company, which is the oil arm of the world’s biggest gas producer Gazprom, also said last year’s revenues increased by 34.3% to $44.19 billion, according to Reuters.
Earnings before interest, tax, depreciation and amortisation rose 40.3% to $10.12 billion, which it said was a record.
