MOSCOW, Feb 17 (PRIME) -- The net profit attributable to the shareholders of Russian independent gas producer Novatek dropped by 92.3% on the year to 67.832 billion rubles in 2020, as calculated under International Financial Reporting Standards (IFRS), the company said on Wednesday.
Revenue from oil and gas sales fell by 18% to 699.75 billion rubles.
Normalized net profit attributable to the shareholders dropped by 31% to 169.02 billion rubles.
Capital expenditures increased by 26% to 204.6 billion rubles. A significant part of the funds was spent on liquefied natural gas (LNG) projects. The company also invested in the launch of deposits of the Severo-Russky block, the exploration of other deposits and drilling.
(73.2895 rubles – U.S. $1)
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