Bashneft has increased net profit in 2013 in one and half times - to 69.1 billion rubles

Net profit of JSOC Bashneft at the end of 2013 amounted to 69.1 billion rubles, which exceeds the level of 2012 in 1.53 times, as evidenced by the company reporting made according to RAS.

Revenues amounted to 517.5 billion rubles with an increase by 5.8 percent to 2012, including from oil products sales - 391 billion rubles, oil - 113.7 billion rubles. Cost of sales decreased by 4.7 percent - up to 268.3 billion rubles. Gross profit was formed in the sum of 249.2 billion rubles, exceeding the level of 2012 by 20 percent.

Selling expenses increased by 18 percent - up to 153.5 billion rubles, management costs decreased by 8.2 percent - to 9.9 billion rubles.

Sales profit amounted to 85.8 billion rubles (growth by 28.6 percent), profit before tax - 86.5 billion rubles (growth by 54.5 percent).

Since the beginning of 2013 the company's long-term liabilities decreased by 6.1 percent to 101.9 billion rubles, short-term liabilities - by 7.4 percent to 90.4 billion rubles.

As previously reported, in 2013 JSOC Bashneft increased oil extraction by 4.1 percent - up to 16073 thousand tons. Average daily production was 44,000 tons. The company attributes a positive trend to the increase in extraction in the territory of Bashkortostan and the early start of extraction in the R.Trebs and Titov’s fields in the Nenets Autonomous District. Bashneft refineries in Ufa increased the volume of hydrocarbon processing by 3 percent - to 21399 thousand tons. Average oil refining efficiency amounted to 84.7 percent.