Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Surgut Results

MOSCOW -- Surgutneftegaz oil firm has posted $837 million net profits for the first nine months of 1999, on net sales of $2.1 billion, the company said in a statement.

Net profits were up 250 percent over the same period last year.

The firm's revenues in dollar terms were down 2 percent as surging world oil prices and Surgutneftegaz's 6.3 percent oil production increase compensated the company for lower domestic sales, United Financial Group said Friday.

Surgutneftegaz produced 27.8 million metric tons of crude and 8.2 billion cubic meters of gas through to the end of third quarter 1999. The company's affiliated Kirishi refinery processed 13.1 million tons of oil over that period.