Data on Sibneft net profits released

According to US GAAP, net profits of Sibneft were $1.305bn in 2001 against $674.8m in 2000. The earnings before interest, tax, depreciation and amortization (EBITDA) grew by 67 percent and reached $1.719bn ($1.027bn in 2000), the press service of the company reported.

In 2001, the increase in oil production was 20 percent as compared to 2000 (from 17.199 million tons to 20.671 million tons).

Direct production expenditures of the company went down by 3 percent to $1.7 per barrel ($12,25 per ton). Net profits were $63.15 per ton of products. The relation of net profits to earnings grew from 28 percent in 2000 to 37 percent in 2001.


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