Zarubezhneft IFRS net profit rises 16% to 13.5 bln rbl in 2019

MOSCOW, Mar 3 (PRIME) -- The net profit of Russian oil company Zarubezhneft went up by 16% on the year to 13.5 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Tuesday.

Consolidated sales revenue, including revenue from joint companies, increased by 1.1% to 92.9 billion rubles.

“In general, Zarubezhneft demonstrated high efficiency in 2019, and in 2020 the company aims to continue moving toward the goals announced in the strategy through quality transformation and using the best practices and market tendencies as the guidelines,” the company said.

An audit confirmed the ratio of oil reserve replenishment at 140%, Zarubezhneft said.

(66.3274 rubles – U.S. $1)

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