MOSCOW, July 2. /TASS/. Tax deductions of Gazprom Neft increased by 57% year on year in the first quarter of 2024, CEO of the Russian oil major Alexander Dyukov said at the meeting with Russian President Vladimir Putin.

"We have increased tax deductions by 57% according to results of operations in the first quarter," the chief executive said.

The year of 2023 was successful for Gazprom Neft and the company also demonstrated decent results in the first quarter of this year, Dyukov noted. "The company is operating stably, providing consumers with oil and petroleum products in the domestic market and in markets of other countries. Certainly, provision of the domestic market is the priority for us," he stressed.

The Russian economy is demonstrating high growth rates and consumption of petroleum products, lubricating materials, bitumen and petrochemicals is on the rise, the chief executive said.