Comparis on of results for 2011 & 2010

  • Rising oil prices, growth inrefining and optimization ofthe sales structure contributed toimproving financial performance, with revenues upby34.2% and adjusted EBITDA upby39.7%;
  • Production ofhydrocarbons grew by8.2% compared with 2010. Production ofgas rose by127.9%, raising total hydrocarbon production to421.64mn BOE;
  • Crude oil refining rose by 6.8%;
  • Net profit ofGazprom Neft rose by69.9% in2011 toUSD 5,352mn;
  • Net profit ofGazprom Neft, adjusted for one-off events, was USD 5,755mn in2011 which is86.1% more than in2010.

The one-off events were:

  • In2011: paper loss ofUSD 403mn recognized onachange inthe fair value ofderivatives;
  • In2010: paper profit ofUSD 59mn recognized onachange inthe fair value ofderivatives.