All news
1 Apr, 11:58

Slavneft posts net loss of $21.2 mln in 2024 after profit in 2023

Despite the net loss, the company’s revenue increased by nearly 16% to 456.6 bln rubles ($5.38 bln)

MOSCOW, April 1. /TASS/. Slavneft, a joint venture between Rosneft and Gazprom Neft, reported a net loss of 1.8 bln rubles ($21.2 mln) for 2024, compared to a net profit of 7.9 bln rubles ($93.13 mln) in the previous year, according to the company’s financial report prepared under the International Financial Reporting Standards (IFRS).

Of the total loss, 3.08 bln rubles ($36.3 mln) were attributable to shareholders, while 1.24 bln rubles ($14.62 mln) in profit were allocated to non-controlling interests.

Despite the net loss, the company’s revenue increased by nearly 16% to 456.6 bln rubles ($5.38 bln), while its pre-tax profit surged 2.6 times to 4.03 bln rubles ($47.5 mln).

Slavneft ranks among Russia’s ten largest oil companies in terms of crude oil production. The company’s refining operations include two major facilities: Slavneft-YANOS, located in Russia’s Yaroslavl region, and the Mozyr Oil Refinery in Belarus.