March 2, 2015 / 10:27 AM / 5 years ago

Russia's Gazprom Neft says 2014 net profit down 32 percent

A view shows a petrol station of Gazprom Neft company and the headquarters of the Russian natural gas producer Gazprom in Moscow, February 24, 2015. REUTERS/Maxim Zmeyev

MOSCOW (Reuters) - Russia’s Gazprom Neft (SIBN.MM), the oil arm of gas producer Gazprom (GAZP.MM), said on Monday its net profit declined by 32 percent to 122.1 billion rubles ($2 billion) in 2014 due to a weaker rouble.

It also said its 2014 revenues rose by 12 percent to 1.69 trillion rubles.

The company, which develops Russia’s only producing Arctic offshore deposit, said it sustained loss of more than 52 billion rubles last year, which inflated its debt, nominated in foreign currencies.

Gazprom Neft’s shares were up almost 2 percent in the afternoon trade, outperforming the broader Moscow stock market .MCX, which rose by 1.3 percent.

Reporting by Vladimir Soldatkin; Editing by Lidia Kelly

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