Gazprom Neft says Q1 profit down 3.5% y/y - Finance news and analysis from Global Banking & Finance Review
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Gazprom Neft says Q1 profit down 3.5% y/y

Published by Global Banking & Finance Review

Posted on May 29, 2026

1 min read

· Last updated: May 29, 2026

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Gazprom Neft Q1 Net Profit Falls by 3.5% Year-on-Year to 95.8 Billion Roubles

Financial Results Overview

Net Profit Performance

MOSCOW, May 29 (Reuters) - Gazprom Neft, the oil arm of Russia's energy giant Gazprom, said on Friday its first-quarter net profit declined by 3.5% year-on-year to 95.8 billion roubles ($1.35 billion).

Revenue and Core Profit

Total Revenue

Revenue for the period totalled 858 billion roubles.

Adjusted Core Profit

Adjusted core profit stood at 310 billion roubles, the company said.

Exchange Rate Information

($1 = 71.1000 roubles)

Reporting and Editorial Credits

(Reporting by Anton Kolodyazhnyy and Maxim Rodionov; editing by Vladimir Soldatkin)

Key Takeaways

  • The modest profit decline contrasts with the steeper 42% drop under IFRS in Q1 2025, highlighting stabilization in performance (akm.ru).
  • Gazprom Neft remains a key upstream and refining player within Russia’s oil sector and a strategically significant subsidiary of Gazprom (en.wikipedia.org).
  • The result comes amid volatile oil markets and disrupted export infrastructure—roughly 40% of Russia’s crude export capacity has been knocked out by Ukraine‐related attacks as of March 2026 (spglobal.com).

References

Frequently Asked Questions

What was Gazprom Neft's Q1 net profit in 2024?
Gazprom Neft's Q1 net profit was 95.8 billion roubles ($1.35 billion).
By how much did Gazprom Neft's Q1 profit decline year-on-year?
Gazprom Neft's Q1 profit declined by 3.5% compared to the previous year.
What was Gazprom Neft's revenue for the first quarter?
Gazprom Neft's revenue for Q1 totalled 858 billion roubles.
What was the adjusted core profit reported by Gazprom Neft for Q1?
The adjusted core profit stood at 310 billion roubles in the first quarter.

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