Thus, the dividends for 2020 may amount to at least RUB 58.5 billion ($793.6 million).
Capital expenditures fell by 5% to RUB 413.526 billion ($5.61 billion).
Alexander Dyukov, CEO of Gazprom Neft, said:
- Gazprom Neft has more than risen to the unprecedented challenges of 2020
- Our 2020 performance confirms that not only did the company respond well to the crisis - we also became more efficient
- Not only have we posted a net profit for this challenging year - we have also maintained production volumes at 2019 levels: the result of effective asset management and higher gas production
- Market volatility notwithstanding, Gazprom Neft has continued its practice of paying interim dividends, increasing the dividend allocation to 50% of IFRS net profit
At the same time, A. Dyukov noted that the OPEC+ agreement is one of the most powerful drivers of oil price growth and both producers and consumers were comfortable with oil prices of $45-$60.