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. Last Updated: 07/27/2016

Novatek Posts Q3 Profit

Novatek on Friday announced third-quarter net profits attributable to shareholders of 7.35 billion rubles ($256 million), representing a year-on-year increase of 29.4 percent.

The company reported that total revenues grew by 7.4 percent in the third quarter to reach 21.97 billion rubles, attributing the gain to an increase in gas prices and stable gas condensate and liquefied petroleum gas sales volumes.